Lotus Technology to Acquire 100% Equity in Lotus Advance Technologies
Deal News | Jul 01, 2025 | Globenewswire
Lotus Technology Inc., a prominent provider in the intelligent and luxury mobility sector, has announced its intention to acquire the remaining equity interests in Lotus Advance Technologies Sdn Bhd from Etika Automotive Sdn Bhd and Geely International (Hong Kong) Limited. This acquisition follows the exercise of put options by both Etika and Geely HK, enabling Lotus Tech to gain 100% control of Lotus UK. The transaction, which will be carried out through non-cash deals based on pre-established pricing, aims to consolidate all operations under the Lotus brand. Upon completion, Lotus Tech will integrate the manufacturing and engineering services of Lotus UK, leading to greater synergy across its global operations. This move is strategically aligned with the company's expansion goals and technological innovation pursuits in the electric and luxury vehicle markets. The completion is anticipated by the end of 2025, pending regulatory approvals.
Sectors
- Automotive Industry
- Manufacturing Industry
Geography
- United Kingdom – Relevant as Lotus Technology Inc. has operations in the UK, and the acquisition involves Lotus UK.
- China – Relevant since Lotus Technology Inc. has significant operations in China and is intertwined with global operations.
- United States – Relevant due to the press release's publication location and the company's listing on Nasdaq.
Industry
- Automotive Industry – Relevant as Lotus Technology operates within the automotive sector, specifically focusing on luxury and electric vehicles.
- Manufacturing Industry – Relevant because Lotus UK controls the manufacturing operations for Lotus sportscars and hyper cars.
Financials
- Multiple pricing method involving share issuance at $10 per share. – Pre-agreed pricing for acquisition valued at 1.15 multiples of revenue plus cash minus debt based on 2024 financials.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lotus Technology Inc. | Acquiring Company | Company | A leading global provider of intelligent and luxury mobility solutions, focused on electric vehicles and advanced technologies. |
| Lotus Advance Technologies Sdn Bhd | Target Company | Company | Owned by Geely HK and Etika, controlling manufacturing of Lotus sports and hyper cars and providing engineering consultancy services. |
| Etika Automotive Sdn Bhd | Selling Company | Company | Holder of 49% equity interests in Lotus UK, exercised put option for Lotus Tech acquisition. |
| Geely International (Hong Kong) Limited | Selling Company | Company | Part owner of Lotus UK, exercised put option allowing for Lotus Tech acquisition. |
| L Catterton Asia Acquisition Corp | SPAC | Company | Special purpose acquisition company affiliated with L Catterton, involved in business combination with Lotus Technology. |