Lotus prepares to go public (Nasdaq) under the ticker symbol LOT

LOT will be the symbol that identifies the legendary automotive brand Lotus on the stock exchange.

Probably all of you who are reading this are familiar with the English brand Lotus, a brand focused from the beginning on the development and manufacture of luxury sports cars.

Currently, since 2017, Lotus belongs to Zhejiang Geely Holding Group, better known as Geely, an important Chinese automotive group that currently owns important brands such as Volvo or Polestar, as well as Lotus.

Now Geely wants to boost the Lotus brand again, but it wants to give it its own touch, and although it will maintain that sporty and luxury spirit, it will dare to offer new segments such as the SUV segment. What’s more, the brand’s first electric car will be the Lotus Eletre , an imposing 100% electric SUV.

The commitment of these brands with a sporting tradition is not something new, and Lamborghini with the URUS, or even Ferrari with its future SUV, are a clear example that things are changing a lot in the sector.

Through a press release, Lotus has announced its upcoming IPO, specifically on the Nasdaq under the ticker symbol LOT. As usual and in order to streamline all processes, it will be done via SPAC.

Lotus CEO Qingfeng Feng commented as follows:

“We believe the proposed business combination and listing will help position Lotus Tech as a leading global luxury electric vehicle company and enable us to further execute our strategy, accelerate our growth and, most importantly, further our mission to lead the industry towards a more sustainable future.”

Recall that one of the objectives of going public is to raise immediate cash and thus be able to continue to invest in the company and its projects.

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