Currently reading: Lotus Technology EV division to go public with SPAC merger
China-based Lotus Technology valued at £4.38 billion as it merges with SPAC firm for Nasdaq listing

Lotus Technology, the non-sports car arm of Lotus Group, will go public in a merger with a special acquisition company (SPAC) that will see it listed on the New York Nasdaq exchange, the company said.

The deal would value the company at around $5.4 billion (£4.38bn), Lotus Technology said in a statement.

Lotus Technology, aka Lotus Tech, is majority owned by China’s Geely Holding with other shareholders including Malaysia’s Etika and Nio Capital, an investment arm of the Chinese carmaker Nio.

The listing will help raise money for future development.

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