Lotus Technology Goes Public with $5.5 Billion Valuation

Merger Finalized with L Catterton Asia Acquisition Corp

Lotus Technology has completed its merger with L Catterton Asia Acquisition Corp, paving the way for the all-electric car manufacturer to start trading on the Nasdaq under the symbol ‘LOT’ on February 23, 2024.

Industry Challenges Amid IPO

Despite industry challenges, Lotus’ public listing values the company at around $5.5 billion. This move comes at a time when other EV manufacturers like Renault and Volvo are facing uncertainties in the market.

Investment and Partnerships

Lotus has secured over $880 million in pre-closing and private investments from global investors and strategic partners. This funding has been crucial for the company’s growth and development.

Lotus Tech’s Future Plans

Lotus Technology is known for its all-electric Eletre SUV and Emeya sedan, both featuring an 800-volt architecture. The company is also working on the Type 135, an all-electric sports car set to debut in 2027 with power ranging from 469 hp to 872 hp.

Transition to Electric Portfolio

By 2027, Lotus aims to have a 100% electric product portfolio, marking a significant shift towards sustainable and eco-friendly vehicles.

With this strategic move, Lotus Technology is poised to lead the electric transformation of the luxury BEV market, setting new standards in the industry.