Lotus Tech Secures Majority Stake in Lotus UK as Geely Exercises Put Option
On 14 April 2025 Lotus Technology Inc. (“Lotus Tech”), a global leader in intelligent, luxury mobility, confirmed that Geely International (Hong Kong) Limited (“Geely”) has invoked the put option dated 31 January 2023, obliging Lotus Tech to purchase Geely’s 51 per cent shareholding in Lotus Advance Technologies Sdn Bhd (“Lotus UK”). Lotus UK oversees the production of Lotus sports cars and hypercars and runs Lotus Engineering, which delivers comprehensive consultancy services to OEMS and Tier 1 suppliers worldwide.
Lotus Tech will complete the acquisition through a non‑cash transaction that follows the pre‑agreed pricing formula set out in the option agreement. Once finalised, the company will assume control of Lotus UK and consolidate the subsidiary’s results, allowing the entire Lotus portfolio to operate under a single corporate structure and brand. The deal, expected to close in 2025 pending regulatory clearance, will enhance operational agility, strengthen brand equity and unlock significant synergies.
The option formed part of agreements linked to Lotus Tech’s business combination with L Catterton Asia Acquisition Corp. Under those terms, Geely and Etika each gained the right to sell their Lotus UK stakes if Lotus UK and its subsidiaries exceeded 5,000 vehicle sales in 2024—a threshold achieved by 31 December 2024. Geely has now exercised its right; Etika’s option remains independent.
Chief Executive Officer Qingfeng Feng stated that acquiring Lotus UK represents a decisive milestone in fully integrating the Lotus brand and is poised to generate substantial, long‑term shareholder value.