In the wake of Polestar, and before that of Zeekr, the Geely group will introduce the division responsible for electric models of Lotus on the New York Stock Exchange. The valuation is estimated at 5 billion euros.
The Chinese giant Geely intends to take advantage of the development of its various electric brands to raise funds from investors. He floated Polestar on the New York Stock Exchange last year. It is now the turn of Lotus, while waiting for that of Zeekr.
It is in fact not the Lotus parent company, but the Lotus Tech division, in charge of the development and production of electric models. Including the Lotus Eletre SUV and the sedan which will be presented before the end of the year. This sedan responds to the project name of Type 133, and the name of Envya has already been put forward for its final appellation. Remember that Lotus Tech is a company whose activities are located in China, but which will be listed on the New York Stock Exchange.
Geely is finalizing a merger transaction with L Catterton Asia Acquisition Corp. It is a SPAC (Special Purpose Acquisition Company), and Bernard Arnault is one of its shareholders. Upon completion of the transaction, Geely will retain 89.7% ownership of Lotus Tech. The new entity will retain the Lotus Tech name and will be included in the NASDAQ index under the acronym LOT (PSNY for Polestar). Its valuation is estimated at 5.3 billion dollars, or 5 billion euros.
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