From Yahoo Finance: 2025-04-17 12:31:00

Geely-owned Lotus Technology has exercised its put option to acquire a 51% equity interest in Lotus Advance Technologies (Lotus UK), consolidating manufacturing of sportscars, hypercars, and consultancy services under the Lotus brand. The transaction, expected to complete by 2025 pending regulatory approvals, involves a non-cash agreement based on pre-agreed pricing. This move aligns with the business combination between Lotus Technology and L Catterton Asia Acquisition. The agreement grants Geely and Etika the right to sell their equity interest in Lotus UK to Lotus Technology if over 5,000 vehicles are sold in 2024. Lotus Robotics has also signed a collaboration with HERE Technologies to develop an advanced Highway Navigation Pilot solution by 2025.



Read more at Yahoo Finance: Lotus Technology to acquire majority stake in Lotus UK