Reuters reveals Geely unit Lotus Tech aims to raise up to $500 mln in funds - Reuters News Agency
Business & FinanceTechnology

Reuters reveals Geely unit Lotus Tech aims to raise up to $500 mln in funds

Reuters broke the news that 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. In an exclusive interview with Reuters, Lotus Technology’s Alexious Lee said the fundraising would give it a valuation of $5 billion to $6 billion, as the company aims to launch its first product – an electric sports utility vehicle – in the first quarter of next year. 

Article Tags
Topics of Interest: Business & FinanceTechnology
Type: Reuters Best
Sectors: EquitiesTechnology
Regions: Asia
Countries: China
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
The Geely logo is seen at a car dealership in Shanghai, China August 17, 2021. Picture taken August 17, 2021. REUTERS/Aly Song    To match Special Report AUTOS-GEELY/LISHUFU
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