Etika discloses 27.8% stake in Lotus Technology

Etika Automotive Sdn Bhd reports beneficial ownership of 179,754,096 Ordinary Shares of Lotus Technology Inc., representing 27.8% of the outstanding class based on 647,687,049 Ordinary Shares as of May 20, 2026.

Rhea-AI Filing Summary

Etika Automotive Sdn Bhd reports beneficial ownership of 179,754,096 Ordinary Shares of Lotus Technology Inc., representing 27.8% of the outstanding class based on 647,687,049 Ordinary Shares as of May 20, 2026.

This position reflects settlement of put option agreements tied to Lotus Advance Technologies Sdn. Bhd. On June 10, 2026, Etika received 23,517,767 Ordinary Shares from Lotus Group International Limited (LGIL), while Geely International (Hong Kong) Limited received 24,477,676 Ordinary Shares, causing LGIL’s holdings to fall below 5% of Lotus Technology’s outstanding shares.

Insights

Equity ownership and governance analyst

Etika discloses a 27.8% stake in Lotus Technology, gained via put option settlement.

Etika Automotive Sdn Bhd now beneficially owns 179,754,096 Ordinary Shares of Lotus Technology Inc., equal to 27.8% of the class. This reflects equity consideration received when Etika and Geely HK exercised put options over Lotus Advance Technologies Sdn. Bhd.

The structure shifted holdings from Lotus Group International Limited (LGIL) to Etika and Geely HK, with Etika receiving 23,517,767 shares and Geely HK 24,477,676 shares on June 10, 2026. LGIL no longer holds more than 5% of Lotus Technology’s outstanding shares.

Etika states it has no current plans for major corporate actions beyond what is described, so the filing mainly clarifies ownership concentration and control rights. Future company disclosures may provide more detail on how this 27.8% position influences governance or strategic decisions.

Key Figures

Beneficial ownership: 179,754,096 Ordinary Shares Ownership percentage: 27.8% Shares outstanding: 647,687,049 Ordinary Shares +3 more

6 metrics

Beneficial ownership 179,754,096 Ordinary Shares Shares beneficially owned by Etika Automotive Sdn Bhd

Ownership percentage 27.8% Portion of Lotus Technology Ordinary Shares owned by Etika

Shares outstanding 647,687,049 Ordinary Shares Issued and outstanding as of May 20, 2026

Shares received by Etika 23,517,767 Ordinary Shares Received from LGIL on June 10, 2026 via put option settlement

Shares received by Geely HK 24,477,676 Ordinary Shares Received from LGIL on June 10, 2026 via put option settlement

Equity interests in Lotus Advance Technologies 51% Geely HK, 49% Etika Ownership of Lotus Advance Technologies Sdn. Bhd. before put option exercise

Key Terms

Schedule 13D, beneficially owned, put option agreement, Ordinary Shares, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition..."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"Note to Row (7) and (9) - Represents 179,754,096 Ordinary Shares held by Etika..."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

put option agreement financial

"the Issuer entered into a put option agreement with each of Geely International (Hong Kong) Limited..."

A put option agreement is a contract that gives its holder the right to sell a specified number of shares at an agreed price within a set period. Think of it like an insurance policy that guarantees you can offload stock at a known price if the market falls; for investors it provides downside protection but can also create obligations for the counterparty (often the company) to buy back shares, which can affect cash flows and ownership stakes.

Ordinary Shares financial

"Ordinary Shares, par value US$0.00001 per share..."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

American Depositary Shares financial

"This CUSIP number applies to the American Depositary Shares, evidenced by American Depositary Receipts..."

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

dispositive power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Dispositive Power 179,754,096.00..."

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

What stake in Lotus Technology Inc. (LOT) does Etika Automotive now report?

Etika Automotive Sdn Bhd reports beneficial ownership of 179,754,096 Lotus Technology Ordinary Shares, representing 27.8% of the outstanding class. This percentage is based on 647,687,049 issued and outstanding Ordinary Shares as of May 20, 2026, excluding certain ADS-related shares.

How did Etika Automotive acquire its Lotus Technology (LOT) shares?

Etika’s Lotus stake arises from put option agreements relating to Lotus Advance Technologies Sdn. Bhd. After exercising its put option, Etika received 23,517,767 Lotus Ordinary Shares on June 10, 2026 from Lotus Group International Limited as part of the final settlement of those options.

What role did Geely International (Hong Kong) Limited play in the Lotus Technology (LOT) transactions?

Geely International (Hong Kong) Limited also exercised a put option tied to Lotus Advance Technologies Sdn. Bhd. On June 10, 2026, Geely HK received 24,477,676 Lotus Technology Ordinary Shares from Lotus Group International Limited as equity consideration under the same overall put option framework.

How many Lotus Technology (LOT) shares are outstanding for the ownership calculation?

The 27.8% ownership figure is calculated using 647,687,049 issued and outstanding Lotus Technology Ordinary Shares as of May 20, 2026. This total excludes Ordinary Shares issued to Deutsche Bank Trust Company Americas for bulk ADS issuance under the company’s stock incentive plan.

Does Lotus Group International Limited still hold a significant stake in Lotus Technology (LOT)?

After transferring shares to Etika and Geely HK, Lotus Group International Limited ceased to beneficially own more than 5% of Lotus Technology’s outstanding Ordinary Shares. The June 10, 2026 transfers reduced LGIL’s position below the 5% reporting threshold described in the ownership disclosure.

Does Etika Automotive have plans for major corporate actions involving Lotus Technology (LOT)?

Etika states it does not currently have plans or proposals that would result in major corporate actions such as mergers, reorganizations, or significant share transactions beyond what is already described. The disclosure primarily describes existing ownership and the recent equity transfers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 06/24/2026 - 04:03 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Lotus Technology Inc.

(Name of Issuer)

Ordinary Shares, par value US$0.00001 per share

(Title of Class of Securities)

54572F101

(CUSIP Number)

Etika Automotive Sdn Bhd
Level 4B, No. 88, Jalan Perdana, Taman Tasik Perdana
Kuala Lumpur, N8, 50480
60-03-20927252

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/10/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 54572F101

1

Name of reporting person

Etika Automotive Sdn Bhd

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MALAYSIA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 179,754,096.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 179,754,096.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

179,754,096.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

27.8 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Note to Row (7) and (9) - Represents 179,754,096 Ordinary Shares held by Etika Automotive Sdn Bhd ("Etika"). Note to Row (13) - The percentage of class of securities beneficially owned by the reporting person and the voting power represented thereby are based on a total of 647,687,049 issued and outstanding Ordinary Shares as of May 20, 2026 (excluding Ordinary Shares issued to Deutsche Bank Trust Company Americas, the depositary of our ADS program, for bulk issuance of ADSs reserved for future issuances upon the exercise or vesting of awards granted under our stock incentive plan).

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares, par value US$0.00001 per share
(b)	Name of Issuer: Lotus Technology Inc.
(c)	Address of Issuer's Principal Executive Offices: No. 800 Century Avenue, Pudong District, Shanghai, CHINA , 200120.
Item 1 Comment: Explanatory Note This CUSIP number applies to the American Depositary Shares, evidenced by American Depositary Receipts, each representing one Ordinary Share of the Issuer.
Item 2.	Identity and Background
(a)	Etika Automotive Sdn Bhd
(b)	Level 4B, No. 88, Jalan Perdana Taman Tasik Perdana, 50480 Kuala Lumpur Malaysia Current information concerning the identity and background of each of the directors and executive officers of Etika Automotive Sdn Bhd (collectively, the "Covered Persons"), as well as applicable additional information called for by Items 3 through 6, is set forth on Annex A, attached hereto and incorporated herein by reference.
(c)	Etika Automotive Sdn Bhd is an investment holding company with automotive-related business.
(d)	During the last five years, the Reporting Person has not and, to the best of its knowledge, none of the Covered Persons has been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, the Reporting Person has not and, to the best of its knowledge, none of the Covered Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Etika Automotive Sdn Bhd - Malaysia.
Item 3.	Source and Amount of Funds or Other Consideration
	On January 31, 2023, the Issuer entered into a put option agreement with each of Geely International (Hong Kong) Limited ("Geely HK") and Etika (the "Put Option Agreements"), pursuant to which each of Geely HK and Etika is granted the right to require the Issuer to purchase all of the equity interests held by each of Geely HK and Etika in Lotus Advance Technologies Sdn. Bhd. On April 14, 2025, Geely HK exercised its put option, requiring the Issuer to purchase 51% of the equity interests in Lotus Advance Technologies Sdn. Bhd. On June 30, 2025, Etika also exercised its put option, requiring the Issuer to purchase 49% of the equity interests in Lotus Advance Technologies Sdn. Bhd. In connection with the closing of the transactions contemplated by the Put Option Agreements and upon the final settlement of such put options, Geely HK received 24,477,676 Ordinary Shares of the Issuer and Etika received 23,517,767 Ordinary Shares of the Issuer on June 10, 2026, in each case from Lotus Group International Limited ("LGIL"). LGIL is wholly owned by Lotus Advance Technologies Sdn. Bhd, which is in turn 51% owned by Geely HK and 49% owned by Etika. On June 10, 2026, Geely HK received 24,477,676 Ordinary Shares and Etika received 23,517,767 Ordinary Shares, in each case from LGIL, following which, LGIL ceases to beneficially own more than 5% of the outstanding shares of the Issuer.
Item 4.	Purpose of Transaction
	The information set forth in Item 3 is hereby incorporated by reference in its entirety. Except as set forth herein, the Reporting Person does not have any present plans or proposals which relate to or would result in any of the transactions of this Item 4.
Item 5.	Interest in Securities of the Issuer
(a)	See responses to Rows (11) and (13) of the cover page of this Schedule 13D.
(b)	See responses to Rows (7) through (10) of the cover page of this Schedule 13D.
(c)	Other than as described in this Schedule 13D, the Reporting Person has not and, to the best of its knowledge, none of the Covered Persons, has effected any transactions in the Ordinary Shares of the Issuer during the past 60 days.
(d)	Not applicable.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The information set forth in Item 3 is hereby incorporated by reference in its entirety. Other than as described in this Schedule 13D, no contracts, arrangements, understandings or relationships exist with respect to the securities of the Issuer between the Reporting Person or any other person or entity.
Item 7.	Material to be Filed as Exhibits.
	Annex A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Etika Automotive Sdn Bhd

Signature:	/s/ Azman Hanafi bin Abdullah
Name/Title:	Azman Hanafi bin Abdullah/ Director
Date:	06/24/2026