Lotus Technology to buy 51% of Lotus UK from Geely

English sports car manufacturer Lotus is on its own again

Lotus Technology Inc. has announced that Geely, the majority owner of its vehicle manufacturing business Lotus UK, exercised its put option earlier this week to sell its 51% stake in the latter company back to the former company. In other words, Geely steps out, and Lotus Tech has to buy back 51% of Lotus UK’s share, putting all the respective businesses under one umbrella. Over 70 years of history The Lotus brand was founded in the UK over 70 y…

Lotus Technology to buy 51% of Lotus UK from Geely

Lotus Technology (Lotus Tech) will be buying back a 51% equity interest from Geely International Hong Kong Limited (Geely) – a wholly-owned subsidiary of Zhejiang Geely Holding (ZGH) – which holds said share of Lotus Advance Technologies (Lotus UK), the brand has announced. Geely will be merging Lotus Tech, which is the R&D and design arm that builds the brand’s EVs, the Eletre and Emeya, with Lotus UK, which is the manufacturing division in the…

Eos enters UK market in memorandum of understanding with Frontier Power

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