Lotus Tech to Gain Full Control of Lotus UK in 2025 Deal
Lotus Technology Inc. (“Lotus Tech”) announced on 30 June 2025 that Etika Automotive Sdn Bhd (“Etika”) had exercised its put option, compelling Lotus Tech to buy Etika’s 49 % stake in Lotus Advance Technologies Sdn Bhd (“Lotus UK”) under their 31 January 2023 agreement. Geely International (Hong Kong) Limited (“Geely HK”) triggered a similar right on 14 April 2025. Once both transfers complete, Lotus Tech will own 100 % of Lotus UK through non-cash share exchanges at pre-agreed prices, enabling Lotus Tech to consolidate Lotus UK’s results and integrate every Lotus-branded operation.
Lotus UK manages the group’s sports-car and hypercar manufacturing and oversees Lotus Engineering, which provides consultancy support to leading global OEMs and Tier-1 suppliers. Full ownership will enable Lotus Tech to streamline production, accelerate innovation in intelligent luxury mobility, and enhance the Lotus brand globally.
The parties expect to finalise the acquisition in 2025, subject to any necessary regulatory approval. In preparation for Lotus Tech’s business combination with L Catterton Asia Acquisition Corp, Lotus Tech and Lotus UK granted put options to Geely HK and Etika. Each option allows the holder to sell Lotus UK shares to Lotus Tech at a price based on 1.15 × revenue, plus cash, less debt, settled in new Lotus Tech shares valued at US$10 each. Activation required Lotus UK and its subsidiaries to sell more than 5,000 vehicles in 2024, a target confirmed by the audited figures as of 31 December 2024. Because the agreements operated independently, Geely HK and Etika could act separately—their recent decisions have now paved the way for Lotus Tech’s complete takeover of Lotus UK and a unified future for Lotus sports-car production and engineering.