10 Most Oversold EV Stocks to Buy According to Analysts

2. Lotus Technology Inc. (NASDAQ:LOT)

% Decline Over 1 Year: ~81.9%

Average Upside Potential: ~94.6%

Number of Hedge Fund Holders: 11

Lotus Technology Inc. (NASDAQ:LOT) is engaged in designing, developing, and selling battery electric lifestyle vehicles. The company announced its preliminary vehicle delivery results for FY 2024. Lotus Technology Inc. (NASDAQ:LOT) delivered 12,065 vehicles in 2024, reflecting a YoY growth of more than 70% and boasting the top growth rate among leading luxury brands. In 2025, it plans to increase global deliveries by 20% with a 25% – 28% contribution from China.

Lotus Technology Inc. (NASDAQ:LOT) is focused on driving technological innovation to cater to broader market demand. It launched Hyper Hybrid EV technology, which is in line with the evolving market demands. The company remains optimistic to see strong progress in its intelligent driving business across the world with revenue of the business from customers other than Lotus increasing to $11 million with a YoY growth of 450%, making ~2% of total revenue.

While Lotus Technology Inc. (NASDAQ:LOT)’s gross margin for the first nine months of 2024 came in at 9%, declining 2 percentage points as compared to the same period of 2023 because of proactive management of the inventory due to trade protectionism, impact of inflation and macroeconomic uncertainties, high margin intelligent driving business managed to secure $130 million of total contract value to fuel future growth. Overall, the growth of the broader EV industry is expected to fuel demand for Lotus Technology Inc. (NASDAQ:LOT)’s luxury EVs because of its strong brand and advanced engineering.