LOTUS CARS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have therefore concluded that it is appropriate to prepare the financial statements on a going concern basis. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. LOTUS CARS LIMITED · parent
   1. Lotus Engineering Limited 100% · England & Wales · Dormant company
   2. Lotus Engineering Malaysia Sdn Bhd 100% · Malaysia · Dormant company

Significant events

• “Lotus Cars delivered a strong year of operational performance in 2024 as part of the ongoing Vision80 strategy to transform the global brand and organisation.”
• “Lotus Cars achieved its core strategic objective of selling over 5,000 vehicles to LTIL, a pre-requisite for a Put Option agreement that could pave the way for the potential integration of Lotus Group International Limited with the wider Lotus group in 2025.”
• “Successful delivery of the market certification and homologation programmes for the Emira was a primary focus in 2024, with key approvals achieved on or ahead of schedule.”
• “Production efficiency continued to improve though 2024, supported by the successful transition to an optimised single-shift manufacturing process at the start of the year. This restructuring has allowed Lotus to optimise capacity and operational effectiveness, while significantly improving efficiency. These gains were reinforced by the completion of a wider efficiency programme in Q4 2024, which included a headcount reduction of 200.”
• “On 10 April 2025, the Company announced a restructuring plan which includes the reduction of approximately 270 UK-based roles.”
• “On 16 April 2025, Lotus Technology Inc. announced that Geely International (Hong Kong) Limited exercised its put options requiring Lotus Technology Inc. to purchase 51% of the equity interest in Lotus Advance Technologies Sdn Bhd. Upon completion Lotus Technology Inc. will gain control over Lotus Group International Limited.”
• “After the year end, the Company received £30m loan funding from an external lender, secured by way of a Standby Letter of Credit issued by Zhejiang Geely Holding Group.”
• “After the year-end, the Company received capital contribution of £29.1m from the Shareholders of the Company's immediate holding company, in the form of waived loan interest, to support the continued growth of the group in line with the business plan.”
• “PV solar arrays came on-stream delivering over 25% of electricity requirement, overall emissions were reduced 15% year on year, a new 'Green Team' was introduced engaging staff support in environmental initiatives and expanded education outreach activities engaged over 4,500 young people.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +10.6%

  £333,506,000 → £368,698,000

• Cash

  -97.7%

  £20,552,000 → £478,000

• Net assets

  +61.2%

  -£225,749,000 → -£87,481,000

• Employees

  -17.5%

  1,699 → 1,401

• Operating profit

  -0.9%

  -£87,345,000 → -£88,112,000

• Profit before tax

  -6.9%

  -£128,469,000 → -£137,391,000

• Wages

  -15.5%

  £84,423,000 → £71,372,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers