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Sports car maker Lotus's tech arm valued at $4.5 billion in fundraising

SHANGHAI (Reuters) - Lotus Technology, the technology arm of sports car brand Lotus, said on Wednesday it had completed a fundraising that valued the business at nearly $4.5...
Sports car maker Lotus's tech arm valued at $4.5 billion in fundraising © Reuters. FILE PHOTO: A Lotus sign is seen at the car plant headquarters in Hethel, Britain June 23, 2021. Picture taken June 23, 2021. REUTERS/Dylan Martinez/File Photo

SHANGHAI (Reuters) - Lotus Technology, the technology arm of sports car brand Lotus, said on Wednesday it had completed a fundraising that valued the business at nearly $4.5 billion.

The unit, part of Group Lotus which is in turn owned jointly by Chinese automaker Geely and Malaysia's Etika Automotive, said it would use the proceeds for product innovation and developing global distribution networks.

Reuters reported in 2021 that Lotus Technology was looking to raise $400 million to $500 million by the end of that year, with a post-money valuation of $5 billion to $6 billion.

Lotus Technology confirmed on Wednesday it was the same round of fundraising but didn't disclose the amount raised or participating investors.

Lotus plans to start production of its first electric SUV by the end of this year and begin deliveries in early 2023.

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05-10-2022 16:16:44 (UTC+7)

EUR/USD

0.9948

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EUR/USD

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AUD/USD

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0.9763

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Gold Futures

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18,087.97

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US Small Cap 2000

1,775.77

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7,565.62

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41.807

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48.84

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165.90

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Adidas AG

124.04

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5.960

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105.33

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8.001

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 EUR/USD0.9948Sell
 GBP/USD1.1417↑ Sell
 USD/JPY144.34↑ Sell
 AUD/USD0.6489↑ Buy
 USD/CAD1.3569Sell
 EUR/JPY143.59↑ Sell
 EUR/CHF0.9763↑ Buy
 Gold1,722.40↑ Sell
 Silver20.740Sell
 Copper3.4770↑ Sell
 Crude Oil WTI85.97Sell
 Brent Oil91.28↑ Sell
 Natural Gas6.704↑ Buy
 US Coffee C219.23Neutral
 Euro Stoxx 503,454.75↑ Sell
 S&P 5003,790.93↑ Buy
 DAX12,570.34↑ Sell
 FTSE 1006,997.45↑ Sell
 Hang Seng18,087.97↑ Buy
 Small Cap 20001,775.77↑ Buy
 IBEX 357,565.62↑ Sell
 BASF41.807Buy
 Bayer48.84↑ Sell
 Allianz165.90↑ Sell
 Adidas124.04↑ Sell
 Lufthansa5.960↑ Buy
 Siemens AG105.33↑ Sell
 Deutsche Bank AG8.001Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,550/ 6,630
(0/ 0) # 1,671
SJC HCM6,540/ 6,640
(0/ 0) # 1,681
SJC Hanoi6,540/ 6,642
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SJC Danang6,540/ 6,642
(0/ 0) # 1,683
SJC Nhatrang6,540/ 6,642
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SJC Cantho6,540/ 6,642
(0/ 0) # 1,683
Cập nhật 05-10-2022 16:16:46
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Cập nhật lúc 14:29:44 05/10/2022
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