Lotus Know-how, the worldwide expertise subsidiary inside the Lotus Group has accomplished fundraising that has valued the corporate at almost US$4.5 billion (RM20.56 billion), stated the corporate as reported by Reuters.
Dad or mum agency, Lotus Group was beforehand aiming to drift the Lotus Know-how division that might worth it at 5 billion to six billion kilos sterling, or RM28.5 billion to RM34.2 billion on the time. Lotus Know-how confirmed to Reuters that this was the identical spherical of fundraising, nonetheless it didn’t disclose the quantity that was raised, or the traders that took half.
Lotus Know-how shall be liable for the model’s new wave of electrical fashions, together with the Eletre absolutely electrical SUV that shall be produced at a Geely plant in Wuhan, China; based on Reuters, manufacturing of the Eletre will start by the tip of this yr.
Lotus Automobiles is 51% owned by Geely whereas the remaining 49% is owned by Etika Automotive, a subsidiary of Etika Technique that’s owned by Tan Sri Syed Mokhtar Al-Bukhary who has management of DRB-Hicom. Etika has a 30% stake in Lotus Know-how.
The Zhejiang Geely Group accomplished the transaction for its majority stake in Lotus in 2017, following the choice by DRB-Hicom to promote Lotus completely for 100 million kilos sterling (RM556 million) on the time.