Lotus Technology shares rise 15.45% premarket after announcing acquisition of 100% equity interest of Lotus.

Lotus Technology Inc. rose 15.45% in premarket trading, with the company announcing its acquisition of 100% equity interest in Lotus, a luxury electric vehicle brand. This move aligns with Lotus Technology's focus on electrification, digitalization, and intelligence in automotive technologies. Additionally, Geely, the parent company of Lotus Technology, is launching its Geely brand in Britain with the electric EX5 SUV, further expanding its market presence and product offerings.