Lotus is a global performance automotive brand built on solid foundations and a rich heritage. Since the formation of Lotus in 1948, it has been pioneering true automotive innovation, introducing cutting-edge technologies and designs to meet its uncompromising vision of how a car should look, perform and feel. Lotus Group is made up of a high-performance sports car business, Lotus Cars, and an all-electric luxury mobility provider, Lotus Technology is the technology, sales and marketing division of Lotus brand. Heading the electrification wave among all global luxury automakers, Lotus Tech is the first traditional luxury auto brand expected to achieve 100% BEV production by 2027.
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Lotus Tech is the technology, sales and marketing division of Lotus brand. Fusing proprietary next-generation technology built on world-class R&D capabilities with decades of British racing heritage, the company has successfully developed luxury EVs ahead of its traditional, internal combustion engine-focused peers by leveraging its wholly-owned R&D facilities spanning Coventry in the UK and Frankfurt in Germany, as well as Wuhan, Shanghai, and Ningbo in China. Its first fully electric hyper SUV, Eletre, is expected to begin delivery in China, EU and UK in 2023. Planning is underway for future delivery of Eletre to the U.S. and rest of the world, leveraging the Lotus brand’s global network across these core regions.
Lotus Tech is a pioneering luxury battery electric vehicle (“BEV”) maker focus on luxury lifestyle vehicles (non-sports car vehicles for daily usage) under the iconic British brand “Lotus”. With over seven decades of racing heritage and proven leadership, the Lotus brand symbolizes the market-leading standards in performance, design and engineering. Today, with the backing and global resources of Geely Holding, Lotus Tech is committed to becoming an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of the brand’s 80th anniversary in 2028, leading the electrification transformation of luxury car segment. In May 2017, DRB-HICOM announced plans to sell 51% stake in Lotus Cars to Geely Automobile Holdings. The deal was signed in June 2017.
Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, including SUVs and sedans.
Lotus Technology entered into an Agreement and Plan of Merger with L Catterton Asia Acquisition Corp on January 31, 2023, on October 11, 2023, and as may be further amended, or modified, the “Merger Agreement”. Upon completion of the transactions contemplated by the Merger Agreement, Lotus Technology will become a Nasdaq-listed public company. The combined company is expected to retain name as “Lotus Technology Inc.” and its ordinary shares represented by American Depositary Shares (ADS) are expected to be listed under the ticker symbol “LOT”.
L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an initial target business in any industry or sector, it has focused its search on high-growth, consumer technology sectors across Asia. For more information about L Catterton Asia Acquisition Corp, please visit www.lcaac.com
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital and three multi-product platforms: private equity, credit and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com