With the traditional ringing of the bell ceremony, Lotus Technology will be listed today on the Nasdaq stock exchange in New York, taking over from L Catterton Asia Acquisition Corp, a special purpose acquisition company (SPAC).
It will do so for the second time in its history (it had already happened in 1968 by will of its founder Colin Chapman) aiming for a listing that enhances the estimate of 5.5 billion dollars made for Lotus Technology and which will donate 880 million to the company of dollars raised by early investors in the period preceding the listing.
Qingfeng Feng, CEO of Lotus Tech - which is, as is known, part of the Chinese Geely group - declared that the listing in the United States "represents a significant step in the company's 'Vision80' strategy, which aims to establish a global presence in the luxury sustainable mobility sector."
The company presents itself to investors with a growth story based today on a range of premium electric cars sold in China, Europe and the United States.
Lotus plans to sell over 76,000 cars per year by 2025, thanks to the Eletre electric SUV, the Emeya sedan and the Emira, the latest sports model with a petrol engine.
With the arrival of a smaller electric SUV - of which Lotus expects to sell a further 80-90 thousand units - the volume of revenues should rise significantly in the second half of the decade.
Lotus is targeting a 4% profit margin for 2025.
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