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Lotus Technology begins delivery of Eletre luxury electric SUV

Lotus Technology begins delivery of Eletre luxury electric SUV

Today, Lotus Technology Inc. ("Lotus Tech" or the "Company"), a leading global luxury electric vehicle maker, successfully completed its first delivery of Eletre, its first fully electric hyper SUV. Lotus Tech hosted a delivery ceremony at the Shanghai International Circuit F1 track to celebrate the occasion, in conjunction with the 75th anniversary of the Lotus brand.

Eletre integrates Lotus's 75 years of racing heritage and engineering expertise into a luxury lifestyle vehicle. In addition to superior aerodynamics and design, it features innovative technologies including fully embedded L4-ready hardware with the world's first deployable LiDAR system. It is powered by Lotus's proprietary 800-volt Electrical Performance Architecture, delivering a sportscar-like experience and enabling Lotus Tech's 420-kilowatt supercharging solution. As of January 31, 2023, Lotus had received more than 5,000 Eletre orders worldwide.

The first Eletre delivery marks a key milestone in Lotus's transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of its 80th anniversary in 2028. The company is now rolling out further deliveries across China, and will begin delivery in the UK and EU later this year. Planning is also underway for future delivery to the U.S. and rest of the world, leveraging the brand's global network.

Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech, commented, "Eletre is a crucial part of our plan to transform Lotus into a truly global electric car brand. We are a pioneer in the decarbonization of luxury automobiles, and the delivery of Eletre has demonstrated our capability to lead the energy transition and steer the industry towards a more sustainable future."

About Lotus Technology

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles including SUVs and sedans with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more.

Forward-Looking Statements

This press release (the "Press Release") contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus Tech. All statements other than statements of historical fact contained in this Press Release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "forecast", "plan", "seek", "future", "propose" or "continue", or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Lotus Tech and its management, as the case may be, involve inherent risks and uncertainties, including those identified in the documents filed or to be filed with the U.S. Securities and Exchange Commission by Lotus Tech. There may be additional risks that Lotus Tech does not presently know or that Lotus Tech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking statements in this Press Release represent the views of Lotus Tech as of the date they are made, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.

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