Lotus Technology Inc. (NASDAQ: LOT) has completed the acquisition of Lotus Advance Technologies Sdn Bhd, securing full ownership of its UK operations. The transaction, finalized on August 21, was driven by the exercise of put options held by Geely and Etika.
The acquired entity, Lotus UK, is headquartered in Hethel, Norfolk, and serves as the company’s hub for sports car manufacturing and automotive engineering consultancy services. Lotus UK has operated for 78 years, specializing in lightweight structures, aerodynamics, and chassis dynamics. Its engineering division provides services to original equipment manufacturers and Tier 1 suppliers.
The acquisition aligns with Lotus Technology’s Focus 2030 strategy, aiming to consolidate British sports car engineering and manufacturing capabilities under a single corporate structure. By integrating Lotus UK’s operations with its existing global footprint—spanning the UK, EU, US, and China—the company seeks to unify its brand globally, streamline governance, and enhance operational synergies across research and development, supply chain, manufacturing, and sales channels.
Qingfeng Feng, Chief Executive Officer of Lotus Tech, stated, "Lotus is one brand and one strategy, and from today it is one business. It unifies the brand, increasing our global competitiveness and accelerating product development and go-to-market speed."
