Lotus closes a fundraising round, valuing the technology division at $4.5 billion

0
32


Lotus Technology has just closed a funding round that values ​​the sports car maker’s technology arm at nearly $4.5 billion.

While the company did not disclose how much money it raised or name the investors involved, Reuters last year Lotus Technology was reported to be looking to raise between $400 million and $500 million, which would value it at $5 billion to $6 billion.

Lotus says it will use the proceeds to develop global distribution networks and innovative products.

Undoubtedly, the most important new model from the Lotus brand is 2024 Eletreunveiled back in late March as the first in a series of three lifestyle electric vehicles that will transform the brand now that it’s under Geely ownership.

Read also: Lotus wants to sell 100,000 cars annually by 2028

Eletre uses a new EV platform that will underpin others Lotus models and includes 800 volt technology. While Lotus has yet to reveal many key details about the SUV, what is known is that it will have a battery capacity of more than 100 kWh and should provide 373 miles (600 km) of range on a single charge. What’s more, Lotus promises that a full charge will take just 18 minutes.

The first version of Art Eletre to market, it will do so with a pair of electric motors that combine to produce 592 hp, allowing it to accelerate from 0 to 62 mph (100 km/h) in less than 3 seconds and reach a top speed of 160 mph ( 257 km/h). ). Customers will be offered two other capacities, with one expected to be around 690 hp.

The Eletre will be followed by an all-electric four-door coupe designed to take on the likes of the Tesla Model S and Porsche Taycan. Currently codenamed Type 133, this model will be followed by the Porsche Macan competitor mid-decade.



Lotus closes a fundraising round, valuing the technology division at $4.5 billion

Source link Lotus closes a fundraising round, valuing the technology division at $4.5 billion