{"id":126231,"date":"2023-11-28T15:37:39","date_gmt":"2023-11-28T14:37:39","guid":{"rendered":"https:\/\/luxus-plus.com\/lotus-technology-secures-870-million-in-financing-ahead-of-merger-with-l-catterton-asia-acquisition\/"},"modified":"2023-11-28T15:37:50","modified_gmt":"2023-11-28T14:37:50","slug":"lotus-technology-secures-870-million-in-financing-ahead-of-merger-with-l-catterton-asia-acquisition","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/lotus-technology-secures-870-million-in-financing-ahead-of-merger-with-l-catterton-asia-acquisition\/","title":{"rendered":"Lotus Technology secures $870 million in financing ahead of merger with L Catterton Asia Acquisition "},"content":{"rendered":"

Lotus Technology has announced that it has secured an impressive $870 million in financing just ahead of its imminent merger with L Catterton Asia Acquisition (LCAA). This injection of funds marks a crucial step in Lotus Technology’s strategic development in the luxury electric vehicle market.<\/h4>\n

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Lotus Technology<\/strong>, the luxury electric vehicle arm of sports car brand Lotus, announced on Tuesday November 28<\/strong> that it had secured a substantial $870 million<\/strong> in financing. The news comes on the eve of the completion of its merger with special purpose acquisition company (SPAC) L Catterton Asia Acquisition (LCAA).<\/strong><\/p>\n

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The entire financing was carried out on the basis of a global valuation of Lotus Technology to the tune of $5.5 billion<\/strong>, as stated in an official release from the China-based<\/strong> company.<\/p>\n

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According to Lotus Technology management, investors will benefit from public shares on closing of the merger with LCAA, enabling Lotus Technology to hold a free float in excess of 19%<\/strong>, excluding existing LCAA shareholders.<\/p>\n

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Strategic development<\/h2>\n

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The resulting funds will be allocated to various strategic initiatives, including the development of “next-generation automotive mobility technologies, promoting product innovation, supporting the expansion of the company’s global distribution network, and for general corporate purposes”,<\/em> according to the release.<\/p>\n

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In January<\/strong>, Lotus Technology had already announced its intention to go public in the US<\/strong> <\/a>by merging with LCAA, an SPAC formed by subsidiaries of L Catterton, an investment company backed by luxury giant LVMH (Louis Vuitton Mo\u00ebt Hennessy).<\/strong><\/p>\n

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