Geely unit Lotus Tech aims to raise up to $500 million in funds: CFO

geely unit lotus tech aims to raise up to 500 million in funds cfo

Sumary of Geely unit Lotus Tech aims to raise up to $500 million in funds: CFO:

  • Lotus Technology, a new unit of China’s Geely set up to develop the technology to power Lotus sports cars, is planning to raise $400 million to $500 million before the end of this year, its chief financial officer told Reuters.
  • Lee said the firm will launch its first product – an electric sports utility vehicle – in the first quarter of next year and aims to have three models within the next five years.
  • Lotus Cars, the maker of the Lotus Esprit, famously driven by James Bond in 1977’s “The Spy Who Loved Me”, positions its vehicles in a segment similar to rival Porsche.

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