Lotus Technology, a company with rights to sell electric cars and R&D technology, announced that it completed the merger with L Catterton’s L Catterton Asia Acquisition Corp (referred to as ‘LCAA’) and will start trading on NASDAQ under the ticker symbol “LOT” beginning February 23, according to local U.S. time. This business combination was approved by LCAA shareholders in a special meeting held on February 2.
Building on its unique sports car and motorsport DNA, Lotus is leading with its next-generation high-performance luxury EV lineup, including the Eletre and Emeya.
Through this initiative, Lotus continues its successful transformation into a global luxury mobility company equipped with cutting-edge technology, high-performance electric powertrains, and sustainability.
Lotus has already unveiled its pure electric hypercar, the Evija, followed by the pure electric hyper SUV Eletre and the pure electric hyper GT car Emeya, evolving into a manufacturer with a high-performance pure electric vehicle (BEV) lineup under its future strategy, Vision 80.
The next-generation EV lineup from Lotus features an innovative 800V voltage system delivering fast charging speeds, Lotus’ trademark exhilarating handling, and advanced sensors capable of supporting level 4 autonomous driving, marking it as a key player in the global luxury EV market.
This NASDAQ listing is expected to serve as the best opportunity for the Lotus brand, which is accelerating its electrification transition. The total capital raised through the stock market is approximately $880 million, which will be utilized for further developing the Lotus network, technology, and infrastructure. Moving forward, Lotus plans to consistently introduce the various BEV new models including Eletre and Emeya, striving to become the first authentic luxury automotive brand with a 100% electric vehicle portfolio by 2027.
To commemorate this public listing, Lotus Tech is set to ring the NASDAQ opening bell in New York on the 23rd (local U.S. time), with live coverage of the event available on the NASDAQ website.
Meanwhile, Kolon Mobility Group, which established Lotus Automobile Korea after signing an official partnership agreement with Lotus in May last year, is the only official importer of Lotus in South Korea and carries out exclusive distribution. In addition, based on its long history and expertise in the premium automotive distribution business, Kolon Mobility Group is leading the way toward comprehensive mobility operations, launching a new brand ‘702’ covering all aspects of mobility services.
By Lee Sang-jin daedusj@autodiary.kr