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Recently, there are media reports that the Lutes Wuhan headquarters under construction is currently suspended and abandoned, surrounded by weeds.

In response to this news, Lutes officially issued a letter on the progress of the construction of Wuhan Lutes Science and Technology headquarters on September 26. In the statement letter, the official pointed out that the construction of the headquarters has not been stopped, and the construction work is progressing steadily according to the plan, which is in the construction preparation period for nearly a week, and the construction work of the Wuhan headquarters will be promoted according to the plan. At the same time, the official also released some information about the scene of Lutes' Wuhan headquarters under construction, revealing that the hanging basket for curtain wall installation at the site has been installed and confirmed through third-party inspection. Glass and profiles in the curtain wall sample area are expected to start on-site installation on September 27.

According to the data, Lutes is a luxury car manufacturer, headquartered in Norfolk, England, founded in 1948. It has been called the world's three supercar brands with Ferrari and Porsche. After entering, Lutes was successively acquired by Toyota, General Motors, Italian capitalists and Proton Group because of its minority brand and unable to make profits on a large scale. After several changes of hands, it was finally acquired by Geely in June 2017, with a 51% stake. In 2018, Lutes released the "Vision80" ten-year brand renaissance plan, announcing the full transformation into a pure electric sports car brand.

In August 2021, Lutes officially announced the establishment of Lutes Technology Company, and moved its global headquarters to Wuhan Economic Development Zone. Lutes Global Intelligent Factory will also be located in Wuhan, and released the product matrix for the next five years. In February, Lutes completed its merger with mergers and acquisitions company L Catterton Asia Acquisition Corp and listed on Nasdaq under the symbol "LOT". It closed at $13.80 on the day, up 2.15%, with a total market capitalization of $9.294 billion.

This time, it was revealed that Lutes Wuhan headquarters was invested heavily by Geely Group in 2021. It is understood that the amount of investment reached 6.3 billion yuan, the project covers an area of about 186mu, construction area of about 390000 square meters, the park is located in Junshan New City, Wuhan Economic and technological Development Zone. The project is scheduled to be built in stages, one of which is expected to be delivered this year, which is mainly responsible for supply chain management, global marketing and R & D and design of pure electric models in China.

At present, Lutes has Evija, EMIRA, Eletre and EMEYA flowers on sale. The first model, the Evija, is on sale at the 2019 Guangzhou Auto Show, with a price starting from 21.88 million yuan. In November 2021, the EMIRA, Lutes' second fuel supercar, went on sale at a price of 858000 yuan. October 2022, the first intelligent pure electric SUV Eletre launched, the new car positioning medium and large SUV, a total of two models, the price range is 828000 yuan-1.028 million yuan. In January, Lutes launched its first all-electric supercar, EMEYA Fanhua, with a price range of 66.8 yuan to 1.18 million yuan. According to the plan, two more pure electric models will be launched in the next two years.

Judging from the price of these Lutes models, it also determines that its audience is a minority group, and the natural sales volume will not be too high. Data show that between 2021 and 2023, Lutes sold 1566, 576 and 6970 vehicles, respectively. At the same time, Lutes is still losing money. According to official results, Lutes Technology's net losses from 2021 to 2023 were $111 million, $725 million and $743 million, respectively.

According to the official plan, Lutes initially set a delivery target of 26000 vehicles this year, but recently officials said they had lowered the annual sales target to 12000 vehicles because of changes in market conditions and new tariff policies in the United States and the European Union. According to the data, Lutes sold 4873 vehicles in the first half of this year, accounting for 40.6% of its annual sales, and it will not be easy to meet its annual sales target.

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