Lotus Technology reports cutting its losses by 63% year-on-year for the first half of 2026, thanks to its Focus 2030 strategy and strong sales performance in China.
Its operating losses were reduced by a one-off refund of a license fee in connection with adjustments to a product pipeline but, even without this, losses reduced by 26% to $195 million compared to $263 million for the same period in 2025, the company reported in its Aug. 27 release.
In the first half of 2026, the Lotus recorded total deliveries of 3,904 vehicles, up 39% YoY, with growth driven by the launch of its plug-in hybrid Eletre X model, which has been delivered in China and six other international markets. China experienced strong growth in deliveries with an increase of 60% YoY.
Deliveries of the Eletre X in mainland Europe are expected to start in the fourth quarter of 2026, followed by the U.K. in mid-2027.
The automaker’s global revenues were $268 million, an increase of 23% YoY. Gross profit improved to $26 million, with gross margin expanding to 10%, which Lotus said was driven by an optimized product mix.
The company said bringing together both the electrified mobility wing and the U.K. based production unit under the One Lotus merger is expected to streamline governance and enhance synergies.
“The strong demand for our new PHEV validates our multi-powertrain approach and expands our addressable market,” said Lotus CEO Qingfeng Feng in a company statement. “We are encouraged by the improvement in both scale and operating performance, and remain focused on delivering sustainable, long-term value,” he added.
