(Refiles to add sourcing to the headline)SHANGHAI : Lotus Technology will go public in the United States via a merger with special purpose acquisition company L Catterton Asia Acquisition Corp in a deal that will value the combined group at $5.4 billion, people familiar with the matter said on Tuesday.
SHANGHAI : Lotus Technology will go public in the United States via a merger with special purpose acquisition company L Catterton Asia Acquisition Corp in a deal that will value the combined group at $5.4 billion, people familiar with the matter said on Tuesday.Lotus Tech is a luxury electric vehicle maker division of sports car brand Group Lotus, which is in turn owned jointly by Chinese automaker Geely and Malaysia's Etika Automotive.
Lotus Tech's existing shareholders, including Geely, Etika and NIO Capital, will retain their interests in the company and own almost 90 per cent of it following the deal, they said.Lotus began production of its first electric sports utility vehicle at the end of 2022 and intends to begin deliveries in the first quarter of this year, it said in September.
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