Lotus Technology to Acquire 100% Equity Interest in Lotus Advance Technologies, Integrating All Operations Under Lotus Brand

Lotus Technology Inc. is acquiring 100% equity interest in Lotus Advance Technologies and integrating all business and operations under the Lotus brand. The acquisition, expected to complete by 2025, includes manufacturing operations for sportscars and hyper cars, and consultancy services provided by Lotus Engineering. This move follows the satisfaction of the Put Option Exercise Condition, where Lotus UK sold over 5,000 vehicles in 2024.