Reporter Miao Shiyu
On September 27th, Lotus responded to the recent online rumors that its global technology headquarters under construction in Wuhan has been shut down and abandoned.
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Lotus stated in the "Lotus Headquarters Construction Progress Statement" that the construction of Lotus headquarters has not been suspended. Lotus said, "We have noticed that some media have recently released reports about the 'suspension of construction of Lotus Technology Headquarters in Wuhan', and Lotus attaches great importance to it. Thank you for your attention to Lotus. Currently, the construction work is steadily progressing according to the plan and is in the construction preparation period for the past week. Lotus will promote the construction of the Wuhan headquarters according to the plan.
According to a previous announcement from the Wuhan Municipal Bureau of Commerce, on August 31, 2021, Lotus Technology, a subsidiary of Geely Holding Group (hereinafter referred to as Geely Group), established its global headquarters in Wuhan, settled in the Wuhan Economic Development Zone, and officially started construction. This also marks Lotus as the first ultra high end sports car brand to establish its global technology headquarters in China. Since being included in Geely Holding Group in 2017, Lotus will officially welcome domestic production.
After investing 8 billion yuan in the construction of Lotus Global Intelligent Factory in Wuhan Economic Development Zone in 2020, Geely Group has set up Lotus Technology Global Headquarters in Wuhan after a year.
According to public information, Lotus' global headquarters is built with a total investment of 6.3 billion yuan from Geely. The project covers an area of approximately 186 acres and has a construction area of approximately 390000 square meters. The park is located in Junshan New City, Wuhan Economic and Technological Development Zone and will be constructed in stages. The first phase is expected to be delivered and put into use in 2024, mainly building the Lotus Technology Global Operations Management Headquarters, responsible for supply chain management, global marketing, and research and development design of Lotus' intelligent pure electric vehicle models in China. After completion, it will not only provide close services for Lotus' vehicle projects in Hannan, but also serve Geely and Lotus projects nationwide and globally.
According to the first quarter financial report of 2024, Lotus achieved a revenue of $173 million during the reporting period, a year-on-year increase of 811%, with a gross profit margin of 18%; In the first quarter, a total of 2194 vehicles were delivered, with over 75% of the total delivery coming from overseas markets.
During the 2024 Chengdu Auto Show, Lotus Technology CEO Feng Qingfeng told Daily Economic News that Lotus plans to release a new car by the end of 2025 and launch a new car in the first quarter of 2026. In addition, Lotus will also be the first to release new vehicle technologies at this year's Guangzhou Auto Show.