What is the average MSRP for Company?
Type 134 is a D-segment battery electric vehicle (BEV) SUV planned for launch in 2025. With an average manufacturer’s suggested retail price (MSRP) exceeding US$70,000, Type 134 will target a broader customer base, including younger demographics. Company expects the annual sales volume of Type 134 to be between 70,000 and 80,000 units starting from 2030. The Vision80 strategy is dedicated to reviving the Company brand globally by focusing on customer satisfaction and shareholder returns. Under this strategy, the Win26 Plan aims for positive operating cash flow and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 2026. Furthermore, Vision80 targets a 4% segment market share in 2028, referring to the luxury car market with an MSRP over $80,000. The graph illustrates the projected growth in Company vehicle deliveries. From an average of approximately 1,200 units delivered between 2018 and 2022, the number increased to 6,970 units in 2023. The company forecasts deliveries to reach 12,000 units in 2024, ultimately aiming for 30,000 units by the Win26 target year, accompanied by positive operating cash flow. Company achieved a 136% year-on-year increase in deliveries, maintaining its position as a top-performing luxury car brand among global competitors. The company delivered over 7,600 vehicles in the first nine months of 2024, making it the top seller among British luxury car brands. Four models were in delivery, each with an average Manufacturer’s Suggested Retail Price (MSRP) over $100,000. The current portfolio includes one SUV, one sedan, and two sportscars. Company maintained the MSRP above $100,000 throughout the first nine months of 2024, despite faster-than-sector growth and intensified competition. The intelligent driving business achieved a contract value of $130 million. Subsidiary A, the intelligent driving division, provided solutions to multiple global auto conglomerates, contributing significantly to this growth. Company's global expansion included entering over 10 new markets across the Gulf Cooperation Council (GCC) countries, Asia, and Oceania. The company introduced the Eletre Carbon, a high-performance variant tailored for the North American market, and also penetrated the fleet market for environmentally sustainable corporate clients in Europe. Launched in 2021 with an average MSRP higher than US$85,000, the Emira is built on a new Company sports car architecture. The vehicle utilizes pioneering Company bonded extruded aluminum chassis technology. The Emira measures 4,412 millimeters in length with a 2,575-millimeter wheelbase. It delivers a power output of 298 kilowatts. The Emira can achieve a top speed of 290 km per hour and accelerate from zero to 100 km per hour in 4.5 seconds, with a maximum torque of 420 Nm. Launched in 2019 with an average MSRP exceeding US$2.2 million, the Evija, the world’s first pure electric British hypercar and a 2020 MUSE Global Design Awards winner, is the first Company road car to feature a one-piece ultra-lightweight carbon fiber monocoque chassis. The Evija is 4,459 millimeters long and weighs only 1,887 kilograms. The Evija comes with a 1,500 kilowatt power system, with a WLTP maximum range of 402 km. The Evija can deliver a top speed of 320 km per hour and an acceleration from zero to 300 km per hour in 9.1 seconds, with a maximum of 1,700 Nm of torque. Company offers three different versions of Eletre, namely, Eletre, Eletre S, and Eletre R, to satisfy the various demands of customers. Eletre R, in particular, generates a maximum 905 horsepower (hp) and can accelerate from 0 to 100 km/h in 2.95 seconds. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury original equipment manufacturers (OEMs). Deliveries of Eletre commenced in China and Europe in 2023. Planning is underway for deliveries to the U.S. and the rest of the world. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to launch two additional fully electric vehicles in the near future, including a D-segment SUV in 2025 and a BEV sports car in 2026. Powered by Company's high-power dual motor, Emeya can deliver an acceleration from zero to 100 km per hour in 2.8 seconds, making it one of the fastest electric GTs in the world. Equipped with Company's supercharging feature, Emeya can reach a range of 150 km with five minutes of charging time and boost up to 80% capacity within 18 minutes of charging time using a 350 kW direct current fast charger. In addition, Emeya has been meticulously designed with the latest sustainable materials to reduce the carbon footprint of its production. Company commenced deliveries of Emeya in China in March 2024 and expects to commence deliveries in Europe in the second half of 2024. The average MSRP of Emeya exceeds US$100,000. Company expects the annual sales volume of Emeya to be between 30,000 and 40,000 units starting from 2028. Future Models The company expects to capture market share and realize first mover advantages by addressing unfilled demands in the current market. Eletre is a luxury lifestyle E-segment SUV powered by Company's 800-volt EPA. Combining its technologically advanced platform with cutting-edge design, Eletre delivers leading performance in acceleration, driving range, and charging speed. Company offers three different versions of Eletre, namely, Eletre, Eletre S, and Eletre R, to satisfy the various demands of customers. Eletre R, in particular, generates a maximum of 905 horsepower (hp) and can accelerate from 0 to 100 km/h in 2.95 seconds. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury OEMs. Company commenced deliveries of Eletre in 2023. The company's second lifestyle production vehicle, Emeya, was launched in September 2023, and Company began deliveries of Emeya in March 2024. In addition to Eletre and Emeya, Company plans to introduce two new models in the near future. Launched in 2019 with an average MSRP exceeding US\$2.2 million, the Evija, the world’s first pure electric British hypercar and a 2020 MUSE Global Design Awards winner, is the first Company road car to feature a one-piece ultra-lightweight carbon fiber monocoque chassis. The Evija is 4,459 millimeters long and weighs only 1,887 kilograms. The Evija comes with a 1,500 kilowatt power system, with a WLTP maximum range of 402 km. The Evija can deliver a top speed of 320 km per hour and an acceleration from zero to 300 km per hour in 9.1 seconds, with a maximum of 1,700 Nm of torque. The Evija is equipped with a 93-kilowatt-hour battery pack, with a fast charging time of around 18 minutes to 100% capacity. Company began deliveries of the Evija in 2024. Launched in 2021, the Emira is built on a new Company sports car architecture. The Emira utilizes the pioneering Company bonded extruded aluminum chassis technology. The Emira measures 4,412 millimeters in length with a 2,575-millimeter wheelbase. It comes with a power output of 298 kilowatts. The Emira can deliver a top speed of 290 km per hour and an acceleration from zero to 100 km per hour in 4.5 seconds, with a maximum torque of 420 Nm. With an average MSRP higher than US$85,000, the annual sales volume of the Emira is expected to be between 5,000 to 6,000 units starting from 2024. How was Company's performance in the first half of the year? Total revenue for the first half of 2024 was $398 million, representing a year-on-year increase of 206%. Company's Average Selling Price (ASP) remained above $100,000, achieving growth far exceeding the industry and luxury car segment. Company's gross margin for the first half of this year was 13%, compared to 5% in the same period of 2023.

In the first half of 2024, Company achieved total product deliveries of 4,873 units, a 239% year-on-year increase, making it the fastest-growing brand among traditional luxury car brands. Global deliveries were balanced, with the four major markets (Europe, China, North America, and Rest of World) each contributing 20-30% of deliveries.

In the first half of 2024, as Company began collaborating with several leading automotive brands by providing intelligent driving solutions and technology development services, technology-related revenue started to expand. With the continued increase in cumulative deliveries of lifestyle vehicles equipped with advanced hardware, the potential for generating paid software subscription revenue continues to grow.

Company launched the Person A Bespoke Service, offering personalized options, designer customization, limited editions, and exclusive customization to meet the growing demands of its customers. The delivery of customized models is expected to further enhance the brand's luxury positioning and benefit Company's long-term profit margins. Type 135 is a battery electric vehicle (BEV) sports car planned for launch in 2026. With an average manufacturer’s suggested retail price (MSRP) exceeding US$95,000, Type 135 will be Company's first all-electric sports car, built upon Company’s unique sports car platform. Company expects the annual sales volume of Type 135 to be between 10,000 and 15,000 units starting from 2030.
Company's business will initially depend substantially on the sales and distribution of the Eletre, Emira, Evija, and Emeya models. Customers tend to expect original equipment manufacturers (OEMs) to offer a wide range of product portfolios and continue to upgrade their existing products. To better meet customer demand, Company plans to introduce two new models in the near future and upgrade existing models on an ongoing basis. To the extent that Company's product variety and cycle do not meet consumer expectations, or the company cannot achieve projected timelines and cost and volume targets, future sales may be adversely affected. Given that, for the foreseeable future, Company's business will depend on a limited number of vehicle models, if a particular model is not well-received by the market, sales volume could be materially and adversely affected, which, in turn, could materially and adversely affect the company's business, financial condition, and results of operations. Company will receive up to an aggregate of approximately US$172.9 million from the exercise of all Warrants, assuming the exercise in full of all of the Warrants for cash. Company expects to use the net proceeds from the exercise of Warrants for research and development, marketing, and general corporate purposes. The likelihood that warrant holders will exercise the Warrants and any cash proceeds that Company would receive are dependent upon the market price of its Ordinary Shares, among other factors. If the market price for its Ordinary Shares is less than US$11.50 per share, Company believes warrant holders will be unlikely to exercise their Warrants. There is no assurance that the Warrants will be “in the money” prior to their expiration or that the warrant holders will exercise their Warrants. Holders of the Sponsor Warrants have the option to exercise the Sponsor Warrants on a cashless basis in accordance with the Warrant Agreement. To the extent that any Warrants are exercised on a cashless basis, the amount of cash Company would receive from the exercise of the Warrants will decrease. See “Risk Factors” beginning on page 17 of the Prospectus for a discussion of information that should be considered in connection with an investment in Company's securities. Neither the U.S. Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus supplement or the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Elise. At £29,995, the new Exige was over £2000 less than predicted when the media were allowed to first see the car at the prototype launch in Autumn 2003. Yet the option list contained some necessary equipment for road or track use that most British buyers would be unlikely to ignore. Most importantly, an effective air conditioning system – for a street car, a feature that most experienced Exige drivers specified, even in the comparative cool of Great Britain – was offered at £1295. Company recognized that air conditioning was vital in some markets, and it was included in the retail price for all the Asia-Pacific markets, specifically Japan and Australia. The Exige, though, was not officially available in the USA at this time. These 2004 prices were much more realistic than the original 2000 Exige, which some felt had been rather steeply priced at £32,995 with just the 177bhp K-series powerplant. However, the first Exige has quickly become a collectable classic, and 3-4 year old examples were still very much in demand at main dealers when the second edition arrived in Britain. The dramatic styling and ultimate cornering speed owed much to the creativity of Company Design’s Person A. [Table Level]
- Table Title: Cost of Revenues for the Year Ended December 31
- Table Summary: The table summarizes the cost of revenues for the years 2023 and 2022, detailing specific categories such as the cost of goods sold and cost of services. It shows both the absolute values and the changes in costs over these years, along with percentage changes.
- Context: The data shows a significant increase in costs corresponding to Company's growing sales volumes, particularly in vehicle products and associated services.
- Special Notes: All values are listed in thousands of US dollars. Percentages indicate the rate of change compared to the previous year.

[Row Level]
Row 1: The "Cost of goods sold" amounted to US$564,741,000 in 2023, up from US$948,000 in 2022, representing an increase of US$563,793,000 or 59,471.8%.
Row 2: The "Cost of services" was US$12,086,000 in 2023, compared to US$6,302,000 in 2022, which is an increase of US$5,784,000 or 91.8%.
Row 3: The "Total" cost of revenues reached US$576,827,000 in 2023, rising from US$7,250,000 in 2022, marking an increase of US$569,577,000 or 7,856.2%. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury OEMs. Planning is underway for deliveries to the U.S. and the rest of the world. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to launch two additional fully electric vehicles in the near future, including a D-segment SUV in 2025 and a BEV lifestyle sports car in 2026. Company believes that its R&D capability is one of its key competitive strengths. Drawn from the Company brand's sports car design heritage, deep automotive expertise, and next-generation technologies, Company's proprietary 800-volt EPA is a high-performance platform for luxury electric vehicles, which was developed over five years of R&D efforts. The platform features supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus, and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. Company's American Depositary Shares (ADSs) and Warrants are listed on the Nasdaq Stock Market LLC, or Nasdaq, under the trading symbols “LOT” and “LOTWW,” respectively. On November 20, 2024, the closing price of Company's ADSs on Nasdaq was $4.45 per share, and the closing price of Company's Warrants on Nasdaq was $0.26 per warrant. Company may further amend or supplement the Prospectus and this prospectus supplement from time to time by filing amendments or supplements as required. Investors should read the entire Prospectus, this prospectus supplement, and any amendments or supplements carefully before making their investment decision. Investing in Company's securities involves a high degree of risk. During the six months ended June 30, 2024, Company borrowed loans due within one year or less with aggregated principal amounts of US$439,922 from banks, bearing an interest rate of the one-year loan prime rate (“LPR”) published by China Foreign Exchange Trade System at the date of utilization plus 0.10% to 0.25% per annum. The interest shall be repaid quarterly or monthly. During the six months ended June 30, 2024, Company repaid loans with a principal amount of US$151,118. The weighted average interest rate on short-term borrowings outstanding as of June 30, 2024, and December 31, 2023, is 4.03% and 3.90%, respectively. As of June 30, 2024, and December 31, 2023, Company had a total line of credit in the amount of US$946,716 and US$279,300, of which the unused portion was US$262,569 and US$14,119, respectively. As of June 30, 2024, and December 31, 2023, certain of Company's short-term borrowings were pledged with restricted cash of US$336,757 and nil, respectively. This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated September 23, 2024 (as supplemented or amended from time to time, the “Prospectus”), which forms a part of Company.'s Registration Statement on Form F-1 (Registration No. 333-279108), as amended and supplemented, with the information contained in Company.'s Current Report on Form 6-K, furnished to the Securities and Exchange Commission on October 1, 2024. The Prospectus relates to (i) the issuance by Company. of up to 15,037,030 Ordinary Shares upon exercise of the Warrants, and (ii) the offer and resale from time to time by the selling securityholders identified in the Prospectus or their pledgees, donees, transferees, assignees, or other successors in interest (that receive any of the securities as a gift, distribution, or other non-sale related transfer) of up to (a) 680,957,495 Ordinary Shares (including 5,486,784 Ordinary Shares issuable upon the exercise of the Sponsor Warrants), and (b) up to 5,486,784 Sponsor Warrants. [Table Level]
- Table Title: Cost of Revenues Breakdown for the Years Ended December 31, 2023, 2022, and 2021
- Table Summary: This table details the cost of revenues for Company over three years, split into the cost of goods sold and cost of services. It shows the absolute amounts in thousands of US dollars, alongside their respective percentages of total cost of revenues for each year.
- Context: The cost of revenues is categorized into costs related to goods sold and services, and these costs are expected to increase as Company expands globally.
- Special Notes: All monetary values are in thousands of US dollars, and percentages represent each component's portion of total cost of revenues for the given year.

[Row Level]
Row 1: In 2023, the cost of goods sold was $(564,741) thousand, making up 97.9% of the total cost of revenues. In 2022, the cost of goods sold was $(948) thousand, comprising 13.1%, and in 2021, the cost of goods sold was $(331) thousand, accounting for 10.6%.
Row 2: In 2023, the cost of services was $(12,086) thousand, constituting 2.1% of the total cost of revenues. The cost of services was $(6,302) thousand in 2022, representing 86.9%, and $(2,799) thousand in 2021, making up 89.4%.
Row 3: The total cost of revenues for 2023 amounted to $(576,827) thousand, totaling 100%. For 2022, the total cost of revenues was $(7,250) thousand, also at 100%, and for 2021, the total cost of revenues was $(3,130) thousand, at 100% as well. See “Risk Factors” beginning on page 17 of the Prospectus for a discussion of information that should be considered in connection with an investment in Company's securities. Neither the U.S. Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus supplement or the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The date of this prospectus supplement is October 18, 2024. Company believes the fair value option best reflects the economics of the underlying transaction. Company recorded the fair value loss of US\$1,180 in “Investment (loss) income, net” in the unaudited condensed consolidated statement of comprehensive loss for the six months ended June 30, 2024. As of June 30, 2024, the fair value of the U.S. treasury bonds with an aggregate outstanding principal amount of US\$325,000 is US\$310,477. After Investor A has released U.S. treasury bonds and/or U.S. treasury bills with an outstanding principal amount equal to US\$175,000, in the event that the closing price drops below a certain level, Company is obligated to, within five business days thereafter, deposit additional cash in U.S. dollars in the restricted cash account (“Restricted Cash Account”) such that the balance thereof would meet the applicable requirement for cash collateral (such obligation to top up being referred to as the “Cash Top Up Obligation”). If the closing price on any trading day exceeds US\$7.00, Company shall be permitted to withdraw all cash in the Restricted Cash Account on such trading day, with such withdrawal to take place on such trading day or the immediately following trading day. Company was granted call options to purchase up to an agreed number of Investor A’s subscribed ordinary shares from Investor A at a per share price that is not lower than \$14.00, subject to satisfaction of certain conditions. In April 2023, Company entered into a convertible note purchase agreement with Counterparty A, pursuant to which Company agreed to issue to Counterparty A a convertible note denominated in U.S. dollars in the principal amount of the U.S. dollar equivalent of RMB80,000,000 due to mature on May 30, 2024. This note was issued in May 2023 following Company's acquisition of Counterparty A’s 40% equity interest in Ningbo Robotics. On November 11, 2023, Company exercised the voluntary redemption right under the note purchase agreement to redeem 50% of the principal amount of the convertible note. Company subsequently issued to Counterparty A a new convertible note in the principal amount of US$5,648,281.51 upon surrender of the original convertible note. On February 22, 2024, this note was automatically converted into 577,456 Ordinary Shares. Company intends to market and distribute its products under the “Company” brand indefinitely, and the trademark licenses are expected to contribute to cash flows indefinitely. The cost of renewal in each jurisdiction is different, and Company believes the amount of renewal costs is insignificant relative to the future cash flows from sales of lifestyle vehicles under the “Company” brand. Therefore, the useful lives of the trademark licenses are considered to be indefinite. The trademark licenses were initially recognized at the amount of US$116,041 as of November 4, 2021, which is the same as the carrying amount from the perspective of the entity under common control and their estimated fair value determined using the relief from royalty method. This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated September 23, 2024 (as supplemented or amended from time to time, the “Prospectus”), which forms a part of Company.'s Registration Statement on Form F-1 (Registration No. 333-279108), as amended and supplemented, with the information contained in Company.'s Current Report on Form 6-K, furnished to the Securities and Exchange Commission on October 18, 2024. The Prospectus relates to (i) the issuance by Company. of up to 15,037,030 Ordinary Shares upon exercise of the Warrants, and (ii) the offer and resale from time to time by the selling securityholders identified in the Prospectus or their pledgees, donees, transferees, assignees, or other successors in interest (that receive any of the securities as a gift, distribution, or other non-sale related transfer) of up to (a) 680,957,495 Ordinary Shares (including 5,486,784 Ordinary Shares issuable upon the exercise of the Sponsor Warrants), and (b) up to 5,486,784 Sponsor Warrants. The company also plans to upgrade its models on an ongoing basis. The Eletre is the first of Company's new breed of pure electric SUVs. It is the company's first lifestyle vehicle, which aims to set the standard for future lifestyle vehicles. The five-seater (four-seater as optional) measures 5,103 millimeters in length with a 3,019-millimeter wheelbase, providing customers with a spacious and comfortable riding experience. The Eletre comes with five standard drive modes, switchable by adjusting the front and rear wheel steering, damper settings, chassis control system, propulsion strategies, and accelerator pedal response. Three different versions of the Eletre are available, namely, the Eletre, the Eletre S, and the Eletre R, with the choice of two powertrains. These versions are designed to satisfy the various demands of customers — the Eletre R is tailored for customers who seek speed and control, while the Eletre S provides a longer range and more comfort. With an average MSRP higher than US$100,000, the Eletre and the Eletre S feature the 450 kilowatt single-speed version, with a maximum range of 600 kilometers (km) per full charge according to the Worldwide Harmonized Light Vehicles Test Procedure (WLTP). This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus, and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. Company's American Depositary Shares (ADSs) and Warrants are listed on the Nasdaq Stock Market LLC, or Nasdaq, under the trading symbols “LOT” and “LOTWW,” respectively. On October 17, 2024, the closing price of Company's ADSs on Nasdaq was \$4.58 per share, and the closing price of Company's Warrants on Nasdaq was \$0.30 per warrant. Company may further amend or supplement the Prospectus and this prospectus supplement from time to time by filing amendments or supplements as required. Investors should read the entire Prospectus, this prospectus supplement, and any amendments or supplements carefully before making their investment decision. Investing in Company's securities involves a high degree of risk. Company has 15,037,030 American Depositary Shares underlying warrants, 680,957,495 American Depositary Shares, and 5,486,784 warrants to purchase ordinary shares. This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated September 23, 2024 (as supplemented or amended from time to time, the “Prospectus”), which forms a part of Company's Registration Statement on Form F-1, as amended and supplemented, with the information contained in Company's Current Report on Form 6-K, furnished with the Securities and Exchange Commission on November 21, 2024. The Prospectus relates to (i) the issuance by Company of up to 15,037,030 Ordinary Shares upon exercise of the Warrants, and (ii) the offer and resale from time to time by the selling securityholders identified in the Prospectus or their pledgees, donees, transferees, assignees, or other successors in interest (that receive any of the securities as a gift, distribution, or other non-sale related transfer) of up to (a) 680,957,495 Ordinary Shares (including 5,486,784 Ordinary Shares issuable upon the exercise of the Sponsor Warrants), and (b) up to 5,486,784 Sponsor Warrants. This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus, and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. Company's American Depositary Shares (ADSs) and Warrants are listed on the Nasdaq Stock Market LLC, or Nasdaq, under the trading symbols “LOT” and “LOTWW,” respectively. On September 27, 2024, the closing price of Company's ADSs on Nasdaq was \$4.95 per share, and the closing price of Company's Warrants on Nasdaq was \$0.30 per warrant. Company may further amend or supplement the Prospectus and this prospectus supplement from time to time by filing amendments or supplements as required. Investors should read the entire Prospectus, this prospectus supplement, and any amendments or supplements carefully before making their investment decision. Investing in Company's securities involves a high degree of risk. [Table Level]
- Table Title: Calculation of Filing Fee Table
- Table Summary: This table specifies the details of security registration for Company, including the types and classes of securities registered, proposed offering prices, and associated registration fees. It outlines the total offering amounts, fees previously paid, and the net fee due.
- Context: This registration is part of a filing with the SEC, related to the issuance of ordinary shares and American depositary shares (ADSs) of Company.
- Special Notes: The table accounts for adjustments in share numbers due to stock dividends, splits, or recapitalizations. The fees are estimated based on an ADS price of $4.955, as recorded on September 16, 2024.

[Row Level]
Row 1: The type of security is "Equity" with the security class titled "Ordinary Share" having a par value of $0.00001 per share. The amount registered totals 44,450,000 shares. The proposed maximum offering price per unit is $4.955, leading to a maximum aggregate offering price of $220,249,750. The fee rate applied is 0.0001476, with an amount of the registration fee being $32,509.

Summary Row 1: The total offering amounts to $220,249,750, with a fee of $32,509 previously paid and a net fee due of $32,509, after accounting for fee offsets. In addition, its future capital needs may require it to obtain additional equity or debt financing that may dilute its shareholders or introduce covenants that may restrict its operations or its ability to pay dividends.” In November 2023, Company entered into a share subscription agreement with Investor A, pursuant to which Company issued 50,000,000 Ordinary Shares to Investor A at an aggregate subscription price equal to $500,000,000. Company deposited into a restricted securities account consisting of (i) certain U.S. treasury bonds with an aggregate outstanding principal amount of $325,000,000 and (ii) certain U.S. treasury bonds and/or U.S. treasury bills with a par amount of $189,612,700. Investor A was granted a put option to sell all or part of its subscribed Ordinary Shares to Company at a price that reflects a 12.5% internal rate of return upon the occurrence of certain triggering events. Company was granted call options to purchase up to an agreed number of Investor A’s subscribed Ordinary Shares from Investor A at a per share price that is not lower than $14.00, subject to satisfaction of certain conditions. Although the second edition Exige shared the second generation Elise’s Toyota technology, its radical styling and track bias led to a hardcore circuit character, albeit one that could be civilized considerably over the original. The second iteration of Exige – the hardcore hardtop Elise variant – shared a mid-mounted 189bhp Toyota motor and 6-speed gearbox, but styling changes were comprehensive compared to the contemporary Elise. The Exige’s formula car aerodynamics were also distinctive, as was an individually tuned chassis on Company tailored Yokohama 048 rubber, all adding to its wild circuit refugee character.

In 2004, after a two-year absence from the marketplace, Company re-introduced the Company Exige – a car that, despite being on sale for just over one year, had revolutionized the hardcore sports coupé market. The second generation Exige, unveiled at the Geneva Motorshow in 2004, took that same racecar-for-the-road philosophy and applied it to the new generation Elise. At £29,995, the new Exige was over £2,000 less than predicted when the media were allowed to first see the car at the prototype launch in Autumn 2003. Yet the option list contained some necessary equipment for road or track use that most British buyers would be unlikely to pass up. [Table Level]  
- Table Title: Inventory Details  
- Table Summary: The table presents a breakdown of inventories for Company as of December 31 for the years 2023 and 2022. It categorizes inventories into products available for sale and goods in transit, providing a total for each year.  
- Context: Prior to the table, there is an explanation of the impact of ASU 2023-09 on income tax disclosures and a discussion about Company's receivables and inventories. Following the table, there is information about inventory write-downs recognized in cost of revenues over the past three years.  
- Special Notes: All amounts are in thousands of US dollars.  

[Row Level]  
- Row 1: As of December 31, 2023, products available for sale were valued at $246,419, compared to $13,714 as of December 31, 2022.  
- Row 2: Goods in transit amounted to $18,771 as of December 31, 2023, whereas the value was $8,989 as of December 31, 2022.  
- Row 3: The total inventory was $265,190 as of December 31, 2023, in contrast to $22,703 as of December 31, 2022. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury OEMs. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to introduce two new models in the near future. Company believes that its R&D capability is one of its key competitive strengths. Drawn from the Company brand's sports car design heritage, deep automotive expertise, and next-generation technologies, Company's proprietary 800-volt EPA is a high-performance platform for luxury electric vehicles, which was developed over five years of R&D efforts. The platform features supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. Such superior design enables Company to quickly roll out new models and ramp up production with competitive performance attributes, achieving economies of scale. What is the product plan for the future? Company currently has four models on sale: the pure electric hypercar EVIJA (priced above $2.2 million), the pure electric intelligent SUV ELETRE (priced above $100,000, E-class), the pure electric intelligent GT Sedan EMEYA (priced above $100,000, E-class), and the fuel-powered sports car EMIRA (priced above $85,000). Company plans to launch a new model each in 2025 and 2026. Pursuant to the initial public offering (IPO) on March 15, 2021, Company sold 25,000,000 Units at a price of $10.00 per Unit, generating gross proceeds of $250,000,000. Each Unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment (see Note 7). See “Risk Factors” beginning on page 17 of the Prospectus for a discussion of information that should be considered in connection with an investment in Company's securities. Neither the U.S. Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or determined if this prospectus supplement or the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. The date of this prospectus supplement is October 1, 2024. Its 112-kWh battery pack offers a maximum WLTP range of 490 km and can be recharged from 10% to 80% in less than 20 minutes. While offering unrivaled performance, Eletre comes at a better value-for-money proposition — with an average MSRP higher than US$100,000 — compared to traditional luxury OEMs. Deliveries of Eletre commenced in 2023. Company's second lifestyle production vehicle, Emeya, was launched in September 2023, and deliveries of Emeya began in March 2024. In addition to Eletre and Emeya, Company plans to introduce two new models in the near future. Company believes that its R&D capability is one of its key competitive strengths. Drawn from Company brand sports car design heritage, deep automotive expertise, and next-generation technologies, Company's proprietary 800-volt Electrical Performance Architecture (EPA) is a high-performance platform for luxury electric vehicles, which was developed over five years of R&D efforts. The EPA features supercharging capabilities, high energy conservation, and high-speed data transmission, with high adaptability that can accommodate varying battery sizes, motors, and component layouts across vehicle classes. Such superior design enables Company to quickly roll out new models and ramp up production with competitive performance attributes and achieve economies of scale. [Table Level]
- Table Title: Operating Expenses Summary for Years Ended December 31, 2022 and 2023
- Table Summary: The table provides a detailed comparison of Company's operating expenses, broken down into categories such as research and development, selling and marketing, and general and administrative expenses for the years 2022 and 2023. It also includes government grants and shows the changes in both absolute values and percentages.
- Special Notes: The values are presented in thousands of US dollars, except for percentage changes.

[Row Level]
Row 1: Research and development expenses decreased from $445,844,000 in 2022 to $368,729,000 in 2023, marking a reduction of $77,115,000, equivalent to a 17.3% decrease.

Row 2: Selling and marketing expenses saw a significant increase from $151,331,000 in 2022 to $328,935,000 in 2023, resulting in a rise of $177,604,000, which is a 117.4% increase.

Row 3: General and administrative expenses slightly decreased from $148,369,000 in 2022 to $144,533,000 in 2023, showing a decrease of $3,836,000, or 2.6%.

Row 4: Government grants reduced substantially from $55,824,000 in 2022 to $4,077,000 in 2023, marking a decrease of $51,747,000, or 92.7%.

Row 5: The total operating expenses increased from $689,720,000 in 2022 to $838,120,000 in 2023, representing a total increase of $148,400,000, equal to a 21.5% rise.