Lotus lost $263m in the first half of 2025

Lotus recorded operating losses of $263m in the first half of 2025, according to the Norfolk-based manufacturer’s latest financial results.

In the first six months of this calendar year, Lotus sold 2,813 cars, down 43 per cent on the number it shifted in the first half of 2024. Almost half of those were in China (where the number actually increased slightly compared to the same time last year), though deliveries to North America were disrupted in the second quarter due to tariff issues.

That made for total revenue of $218m, a 45 per cent decrease year on year. Not good.

"With deliveries of the upgraded models ramping up in China during the second quarter, we achieved a QoQ revenue growth of 35 per cent, a testament to our product competitiveness," said Daxue Wang, Chief Financial Officer. 

"Notably, our gross margin has rebounded meaningfully from the trough as compared with the full year of 2024, supported by disciplined cost controls. We remain committed to enhancing operational efficiency to continue to deliver value for our customers, partners, and shareholders."

As you may have also heard in recent days, even with the might of the Geely megacorp behind it, Lotus has announced that it will cut 550 jobs at its UK headquarters in Hethel, Norfolk.

We first heard rumours back in June that it could be closing its UK base, home to 1,300 employees, something the carmaker quickly shut down. However, in a statement released at the time, it said that it was “exploring options” to stay competitive, and this we presume is the outcome.

Troubling news indeed. The Evija hypercar has been six years in the works, and Lotus is still paying off development costs on the Emira, plus its fully electric Eletre SUV and Emeya saloon.

More as we have it.