Luxury electric car maker Lotus Technology (LOT, Financials) said in the first nine months of 2024 7,543 units were delivered. With car deliveries dispersed throughout important markets in Europe, China, North America, and other areas, this shows a 134% year-on-year growth. Every area accounted for either 2035% of all deliveries.

• Warning! GuruFocus has detected 4 Warning Signs with LOT.

Lotus sent the Emeya to Europe in the third quarter; the Eletre was sent to countries including the GCC, Japan, and Korea. September saw the business introduce the Eletre Carbon, a high-performance model costing $229,900. Eletre Carbon deliveries are anticipated to start in the first half of 2025. Third quarter deliveries for the Eletre and Emeya also began from bespoke and collection variants.

In September Lotus also unveiled its Theory 1 concept vehicle, stressing its emphasis on cutting-edge technologies and environmentally responsible design.

Earlier this year, due to the uncertainty generated by additional tariffs in the U.S. and Europe, Lotus Technology cut its 2024 delivery estimate by more than 50%, lowering the aim to 12,000 units. Notwithstanding these obstacles, the firm is growing its market share; the Eletre SUV is currently sold throughout the Americas, Asia, and the Middle East.

Lotus Tech said in the second quarter of 2024 delivery of 2,679 units took place, up from 2,194 in the first quarter. Though sales rose to $225 million from $111 million in the same period previous year, the company's net loss expanded to $202 million from $193 million a year earlier

This article first appeared on GuruFocus.