Lotus Technology showcased Eletre at Auto Shanghai 2023 after its first delivery

NEW YORK,April 19,2023 -- Today,Lotus Technology Inc. ("Lotus Tech" or the "Company"),a leading global luxury electric vehicle maker,showcased three vehicles at Auto Shanghai 2023. The brand displayed four models of Eletre,Lotus Tech's first fully electric hyper SUV,along with an Evija,the world's first pure electric British hyper car,and an Emira,the mid-engined sports car,Lotus's last ICE vehicle,at its 1,200 square meter booth. Lotus Tech also provided Eletre test drives to customers around the Shanghai International Exhibition Center.

Lotus Tech’s booth is crowded with Auto Shanghai attendees on April 18 as the leading global luxury electric vehicle maker showcases its vehicles.

Lotus Tech booth displays for Eletre (right and middle),its first fully electric hyper SUV,and Evija (left),the world’s first pure electric British hyper car.

The event came three weeks after the first delivery of Eletre,a key milestone in Lotus's transformation into an advanced,fully electric,intelligent,and sustainable luxury mobility provider. The Company is now rolling out further deliveries of Eletre across China,and will begin delivery in the UK and EU later this year. Planning is underway for future delivery to the U.S. and rest of the world,leveraging the brand's global network. As of January 31,2023,it had received more than 5,000 Eletre orders worldwide.

Lotus Tech has developed luxury EVs ahead of its traditional,internal combustion engine-focused peers by leveraging its wholly-owned R&D facilities spanning in the UK,Germany and China. Building on Lotus's racing heritage,Eletre delivers a sportscar-like experience powered by Lotus's proprietary 800-volt Electrical Performance Architecture and innovative technologies such as fully embedded L4-ready hardware with the world's first deployable LiDAR system.

In addition to Eletre,the Company plans to broaden its portfolio of luxury EVs featuring groundbreaking technologies over the next four years,beginning with the expected launches of an E-segment sedan and a D-segment SUV.

Lotus Tech also hosted a special ceremony at the Shanghai International Circuit F1 track on March 29 to celebrate its first delivery of Eletre,in conjunction with the 75th anniversary of the Lotus brand. Visit the Company's websiteto read more and watch videosof the event.

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.

Contact Information

For inquiries regarding Lotus Tech

Demi Zhang

ir@group-lotus.com

Brunswick Group

Lotustechmedia@brunswickgroup.com