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Lotus Technology Inc. celebrates its public listing on Nasdaq under the ticker symbol 'LOT' following a business combination with L Catterton Asia Acquisition Corp. The company aims to become a leading luxury electric vehicle maker with a fully electric product portfolio by 2027.
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Lotus Technology Inc. and L Catterton Asia Acquisition Corp announce the completion of their business combination, with Lotus Tech becoming a U.S.-listed company under the ticker symbol 'LOT'. The ADSs are expected to commence trading on Nasdaq on February 23, 2024, after LCAA shareholders approved the transaction. Lotus Tech aims to advance into a global sustainable luxury mobility provider through the Vision80 strategy, emphasizing collaboration with LCAA for a greener future.
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Lotus Technology Inc. and L Catterton Asia Acquisition Corp announced the completion of their business combination, with Lotus Tech's American Depositary Shares (ADS) set to trade on the Nasdaq under the ticker symbol 'LOT' on February 23, 2024. The combined company aims to become a leading global luxury electric vehicle maker, focusing on fully electric, intelligent, and sustainable mobility solutions. Lotus Tech has already launched high-performing battery electric vehicles (BEVs) like Eletre and Emeya, with plans to achieve a 100% electric product portfolio by 2027. The company has secured over US$880 million in financing commitments since the transaction announcement, positioning itself for accelerated growth in the luxury BEV market.
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Lotus Technology Inc. (LOT) to Showcase Next-Generation Autonomous Driving Solutions at CES 2024
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Lotus Technology Inc. (Lotus Tech) (NASDAQ: LCAA) has secured approximately US$870 million in private investment in public equity (PIPE) financing and convertible notes this year, ahead of its planned business combination with L Catterton Asia Acquisition Corp. The new financing commitments add to approximately US$120 million previously announced, based on a US$5.5 billion pre-money valuation. This demonstrates global investors' confidence in Lotus Tech's performance and growth potential, positioning the company to leverage the rapid growth in the electrification of luxury vehicles.
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Lotus Technology Inc. releases its first annual ESG Report, highlighting its achievements and goals in environmental sustainability and social inclusivity. The report focuses on six key fields and sets targets aligned with the United Nations Sustainable Development Goals. Lotus Tech aims to achieve carbon neutrality across its value chain by 2038 and plans to have a 100% electric product portfolio by 2027. The company also emphasizes sustainable products and green manufacturing practices.
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Lotus Tech's intelligent driving arm, Lotus Robotics, will license its technology to leading automakers, showcasing the company's R&D prowess and growth potential. The intelligent driving systems developed by Lotus Robotics are used in its luxury electric vehicles, featuring innovative technologies like the world's first deployable LiDAR system. The partnerships demonstrate Lotus Tech's transformation into an intelligent, all-electric provider of luxury mobility. The company's merger with L Catterton Asia Acquisition Corp is expected to be completed this year, making Lotus Tech a public company with a pro forma enterprise value of approximately US$5.6 billion.
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Lotus Tech announces debut of Emeya, a luxury electric hyper-GT vehicle with advanced features and fast charging capabilities. Production to start in 2024. Company aims to become a fully electric luxury mobility provider by 2028. Global orders for Eletre and Emira reach 17,000 units. Merger agreement with LCAA expected to make Lotus Tech a public company with a value of $5.6 billion.
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Lotus Technology Inc. announces updates on its global expansion, including the opening of 24 new stores in the first half of 2023. The company plans to reach over 300 stores by the end of 2025. Lotus Tech has accumulated a global orderbook of approximately 17,000 vehicles, demonstrating strong customer demand. The company is expected to become a public company with a pro forma enterprise value of approximately US$5.6 billion.
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L Catterton Asia Acquisition Corp