Geely exercises its Put Option on Lotus UK, enabling reintegration of all businesses under the Lotus brand
Bear with me, as this one is a bit complicated and jargon-heavy. Lotus Technology Inc. announced that Geely, the majority owner of its vehicle manufacturing business Lotus UK, exercised its put option earlier this week to sell its 51% stake in the latter company back to the former company. In Lamen’s terms, Geely is out, so Lotus Tech has to buy the 51% of Lotus UK back, putting all those respective businesses back under one umbrella. Still with me? More below.
