Lotus Technology Increases Revenue and Deliveries
November 21, 2024
Merger/DeSPAC: Feb 23, 24
Industry:
MOTOR VEHICLES & PASSENGER CAR BODIES
New York, NY – Lotus Technology Inc. (Nasdaq: LOT, LOTWW) reports strong results for the first nine months of 2024. Revenue more than doubled year-on-year, reaching $653 million. Deliveries increased by 136% to over 7,600 vehicles.
The European market was particularly dynamic with deliveries increasing by 372%. The intelligent driving systems business also recorded strong growth. Revenue from customers outside Lotus increased by 450% to $11 million.
Lotus Technology continues to focus on technological innovation. Recently, the Hyper Hybrid EV technology was introduced, which offers high performance with a combined range of over 1,100 kilometers.
Despite revenue growth, Lotus Technology posted an operating loss of $598 million. The company attributes this to investments in research and development and expansion into new markets.
Lotus Technology is confident in successfully implementing its growth strategy and further expanding its position as a leading provider of intelligent and luxury mobility solutions.
Triller Appoints Former TikTok Product Head
November 20, 2024
Merger/DeSPAC: Oct 16, 24
Industry:
INVESTMENT ADVICE
Los Angeles, CA – Triller Group Inc. (Nasdaq: ILLR, ILLRW) appoints Sean Kim as the new CEO of the Triller App. Kim, who previously worked at TikTok and Amazon Prime, will develop the next generation app and strengthen Triller’s position in the social media landscape.
With Kim’s experience in social media, entertainment, and commerce, Triller aims to scale its platform, expand its global presence, and create innovative experiences for creators, fans, and brands. The focus is on AI-powered tools and creator-centric features.
The new version of the Triller app is scheduled for release in the first quarter of 2025. Triller Group is also strengthening its leadership team with additional experts from TikTok and Amazon.
“We are bringing the best talent in the industry to Triller,” says Sean Kim. “Our mission is to become the world’s most creator-focused social platform with a focus on discovery, monetization, and ownership.”
Triller aims to solidify its position as a leader in digital entertainment with new initiatives and product enhancements.