Lotus-LOT-EV

The iconic Lotus brand is going public on the US Nasdaq exchange under the ticker LOT as the pioneering luxury EV maker looks to become a global competitor.

Founded in 1948, Lotus is celebrating its 75th anniversary this year after growing to become a renowned sports car manufacturer.

In June 2017, Zhejiang Geely Holding Group, better known as Geely, bought majority ownership (51%) in Lotus Cars. Geely has scooped up several brands like Volvo, who also owns Polestar, with plans to accelerate their efforts to go electric.

In addition, Geely provides support to help its brands sustain growth while transitioning to new technology like electric vehicles and AI.

The original founder, Colin Chapman, was keen on lightness as the key to a great sports car, which is still a significant part of the brand’s DNA today. Lotus Technology, the global “intelligent tech” division of Lotus Group, takes the best of what the brand has accumulated over the past 75 years and injects it with modern innovations like EV batteries, energy management, and electric motors.

Lotus unveiled the “world’s first pure electric British hypercar,” the Enivja, in 2019 with 2000 hp and a starting price tag of over $2 million.

Meanwhile, Geely’s plans for the brand were much more extensive, announcing plans to produce four new electric vehicles, including two SUVs. Shortly following the exciting news, Lotus revealed a new lightweight EV platform to support the expansion of an all-electric lineup.

This past October, we got a glimpse of what the Lotus brand of the future could look like with the fully electric Eletre hyper SUV. The Eletre is part of a “new breed of pure electric SUVs” with 0 to 60 mph in under three seconds and starting price tag of around $95,000.

Lotus-LOT-EV-1

Lotus Eletre, all-electric hyper SUV (Source: Lotus)

Deliveries are expected to begin in China this quarter, followed by the UK and EU later this year. However, Lotus is also planning a US expansion for future delivery of the Eletre EV.

To help expand the brand and gear up for a US launch, Lotus is now planning to go public on the US-based Nasdaq exchange under the ticker LOT.

Lotus (LOT) goes public in the US to expand EV brand

In a press release today, Lotus said it has agreed to merge with special purpose acquisition company (SPAC) L Catterton Asia Acquisition Corp (LCAA) to become a publicly traded company.

Lotus is expected to keep its name, “Lotus Technology,” and will trade on the Nasdaq exchange under the ticker LOT.

CEO of Lotus Tech, Mr. Qingfeng Feng, is excited about the new business collaboration, explaining:

We believe the proposed Business Combination and listing will help position Lotus Tech as a leading global luxury EV company and will enable us to further execute our strategy, accelerate our growth, and importantly, further our mission to steer the industry towards a more sustainable future.

The value of the combined business is around $5.4 billion, while Lotus’s existing shareholders, including Geely and NIo Capital, will retain their interests and own 89.7% of the equity.

Through a manufacturing partnership with Geely, Lotus has access to the company’s 150,000 annual EV unit capacity and dedicated EV manufacturing facility in Wuhan, China.

Keyword: Luxury EV maker Lotus to go public on the Nasdaq via SPAC under ticker ‘LOT’

CAR'S NEWS RELATED

Lotus to announce its India entry on November 9

Lotus is likely to offer the Emira sportscar and the Eletre electric SUV in India. According to a media report, British sports carmaker Lotus is set to announce its entry into the Indian market on November 9, 2023. As per the report, Lotus has partnered with Exclusive Motors to ...

View more: Lotus to announce its India entry on November 9

Lotus Type 136 Electric Road Bike Is A Race-Inspired Work Of Art

It’s modeled after the British cycling team’s Hope HB.T race bike that competed in the 2020 Tokyo Olymipics.

View more: Lotus Type 136 Electric Road Bike Is A Race-Inspired Work Of Art

Why the new Lotus electric bike costs almost $25,000

Lotus, an automotive company that hasn’t always been known as a leader in economical electric vehicles, is trying its hand at a new electric bicycle. But don’t think this is a sneaky way to get a cheap lotus, as even the newly announced Lotus Type 136 e-bike costs a ...

View more: Why the new Lotus electric bike costs almost $25,000

Lotus unveils the ultimate rush-hour buster with the superlight Type 136

An electric road bike that weighs only 9.8kg

View more: Lotus unveils the ultimate rush-hour buster with the superlight Type 136

Lotus PH unveils new Eletre at 11th PH EV Summit

The brand’s first SUV will start with a P500,000 discount

View more: Lotus PH unveils new Eletre at 11th PH EV Summit

Exclusive: Watch Us Start Up The Lotus Type 66 Can-Am Tribute

We’re the first folks outside the company to rev this 830-horsepower racer.

View more: Exclusive: Watch Us Start Up The Lotus Type 66 Can-Am Tribute

A Chat with Dan Balmer, Regional Director, Lotus Asia-Pacific and Middle-East : Relight My Fire

A Chat with Dan Balmer, Regional Director – Lotus Asia-Pacific and Middle-East : Relight My Fire Buona Terra Italian Restauran, Singapore – Disco never goes out of style. Neither does Lotus, it seems, as the brand gets groovy and enjoys a newfound renaissance thanks to investment from majority shareholder ...

View more: A Chat with Dan Balmer, Regional Director, Lotus Asia-Pacific and Middle-East : Relight My Fire

Fellow Motorist: Dan Balmer, regional director, Lotus Asia Pacific & Middle East

Dan Balmer, 47, oversees 19 Lotus markets including Dubai. We chat with the Briton at the Singapore launch of the Lotus Eletre. How long have you been a motorist in Dubai? Five years, from 2018 till now. What do you like about motoring in Dubai? The open space and very ...

View more: Fellow Motorist: Dan Balmer, regional director, Lotus Asia Pacific & Middle East

Lotus Partners With Subprime Lender To Finance Its American Auto Loans

Retail Prices Of Lotus Eletre And Emira Revised

Lotus Eletre and Emira price go up as Ringgit value stays down

Price increase for Lotus Eletre EV, Emira line-up – RM 40k to 83k difference sets you back?

Lotus Eletre And Emira Malaysian Pricing Revised

Rapid Ascent: The Radford Type 62-2 Track Edition

Lotus to enter the Indian market with Emira & Eletre EV

Lotus expands EV lineup with Emeya grand tourer

Emeya is First Hyper-GT From Lotus Set to Rival Taycan

Lotus shows off Emeya, a four-door electric GT with expected 900bhp

Lotus Uses Recycled Haute Couture And Deletes PVC In Emeya Interior

Lotus unveils the Emeya, one of the fastest EVs in the world

OTHER CAR NEWS

; Top List in the World https://www.pinterest.com/newstopcar/pins/
Top Best Sushi Restaurants in SeoulTop Best Caribbean HoneymoonsTop Most Beautiful Islands in PeruTop Best Outdoor Grill BrandsTop Best Global Seafood RestaurantsTop Foods to Boost Your Immune SystemTop Best Foods to Fight HemorrhoidsTop Foods That Pack More Potassium Than a BananaTop Best Healthy Foods to Gain Weight FastTop Best Cosmetic Brands in the U.STop Best Destinations for Food Lovers in EuropeTop Best Foods High in Vitamin ATop Best Foods to Lower Your Blood SugarTop Best Things to Do in LouisianaTop Best Cities to Visit in New YorkTop Best Makeup Addresses In PennsylvaniaTop Reasons to Visit NorwayTop Most Beautiful Islands In The WorldTop Best Law Universities in the WorldTop Richest Sportsmen In The WorldTop Biggest Aquariums In The WorldTop Best Peruvian Restaurants In MiamiTop Best Road Trips From MiamiTop Best Places to Visit in MarylandTop Best Places to Visit in North CarolinaTop Best Electric Cars For KidsTop Best Swedish Brands in The USTop Best Skincare Brands in AmericaTop Best American Lipstick BrandsTop Michelin-starred Restaurants in MiamiTop Best Secluded Getaways From MiamiTop Best Things To Do On A Rainy Day In MiamiTop Most Instagrammable Places In MiamiTop Interesting Facts about FlorenceTop Facts About The First Roman Emperor - AugustusTop Best Japanese FoodsTop Most Beautiful Historical Sites in IsraelTop Best Places To Visit In Holy SeeTop Best Hawaiian IslandsTop Reasons to Visit PortugalTop Best Hotels In L.A. With Free Wi-FiTop Best Scenic Drives in MiamiTop Best Vegan Restaurants in BerlinTop Most Interesting Attractions In WalesTop Health Benefits of a Vegan DietTop Best Thai Restaurant in Las VegasTop Most Beautiful Forests in SwitzerlandTop Best Global Universities in GermanyTop Most Beautiful Lakes in GuyanaTop Best Things To Do in IdahoTop Things to Know Before Traveling to North MacedoniaTop Best German Sunglasses BrandsTop Highest Mountains In FranceTop Biggest Hydroelectric Plants in AmericaTop Best Spa Hotels in NYCTop The World's Scariest BridgeTop Largest Hotels In AmericaTop Most Famous Festivals in JordanTop Best European Restaurants in MunichTop Best Japanese Hiking Boot BrandsTop Best Universities in PolandTop Best Tips for Surfing the Web Safely and AnonymouslyTop Most Valuable Football Clubs in EuropeTop Highest Mountains In ColombiaTop Real-Life Characters of Texas RisingTop Best Beaches in GuatelamaTop Things About DR Congo You Should KnowTop Best Korean Reality & Variety ShowsTop Best RockstarsTop Most Beautiful Waterfalls in GermanyTop Best Fountain Pen Ink BrandsTop Best European Restaurants in ChicagoTop Best Fighter Jets in the WorldTop Best Three-Wheel MotorcyclesTop Most Beautiful Lakes in ManitobaTop Best Dive Sites in VenezuelaTop Best Websites For Art StudentsTop Best Japanese Instant Noodle BrandsTop Best Comedy Manhwa (Webtoons)Top Best Japanese Sunglasses BrandsTop Most Expensive Air Jordan SneakersTop Health Benefits of CucumberTop Famous Universities in SwedenTop Most Popular Films Starring Jo Jung-sukTop Interesting Facts about CougarsTop Best Hospitals for Hip Replacement in the USATop Most Expensive DefendersTop Health Benefits of GooseberriesTop Health Benefits of ParsnipsTop Best Foods and Drinks in LondonTop Health Benefits of Rosehip TeaTop Best Air Fryers for Low-fat CookingTop Most Asked Teacher Interview Questions with AnswersTop Best Shopping Malls in ZurichTop The Most Beautiful Botanical Gardens In L.A.Top Best Mexican Restaurants in Miami for Carb-loading rightTop Best Energy Companies in GermanyTop Best Garage HeatersTop Largest Banks in IrelandTop Leading Provider - Audit and Assurance In The USTop Best Jewelry Brands in IndiaTop Prettiest Streets in the UKTop Best Lakes to Visit in TunisiaTop Highest Mountains in Israel