Lotus to float its new division on stock market soon

Lotus's new division called Lotus Technology might just be moving into the stock market real soon. The automaker recently revealed this plan to their potential investors during a roadshow that started in China. The investors also received a look at the brand new all-electric SUV by Lotus, allegedly known as Type 132. 

Lotus also specified that they wish to list its new division i.e. Lotus technology and not Lotus cars due to their divisional ownership structure. The brand is owned 51% by Geely, and Etika Automotive owns the rest. The latter is a subsidiary of Etika Strategy that is again owned by Tan Sri Syed Mokhtar Al-Bukhary, who owns DRB-Hicom.

Lotus’s spokesperson revealed to Autocar at an interview that the whole point of the remote viewing to investors at the roadshow is a way of understanding whether investors are genuinely interested in the stock. The float is expected to happen in the next one or two years, but the place has not been finalized yet. It might be New York, London, or Asia. The company might release an IPO or initial public offering instead of the SPAC or particular purpose acquisition company listing method. 

Lotus is also planning to sell at least 1,00,000 cars every year till 2028. Out of them, about 90,000 will be all-electric SUVs and sedans, manufactured by the new division. This technology will help implement new and unique features like intelligent manufacturing, intelligent driving, electronic control systems, electric motors, energy and battery management, and much more. 

The main focus, for now, will be on Lotus’s electrification drive that will start with the new Type 132 (might be named the Lambda). Following this, there will be a Type 133, an electric sedan in 2023, a Type 134, an SUV in 2025, and lastly, the Type 135 sports car in 2026. 

That’s all we know for now.  For further updates, stay tuned!

Also read: Lamborghini hoping to continue internal combustion engines after 2030