NEW YORK and SINGAPORE, July 24, 2023 /PRNewswire/ — Lotus Technology Inc. (“Lotus Tech” or the “Corporate”), a number one world luxurious electrical car maker, nowadays introduced updates on its world enlargement over the primary six months of 2023.
Lotus Tech has expanded its world retail community to 193 retail outlets, opening 24 new shops over the primary part of 2023. Following the predicted of entirety of its world gross sales and distribution platform within the 3rd quarter of this yr, the Corporate expects to additional expand its world distribution community, and goals to succeed in over 300 retail outlets by means of the top of 2025.
Thru Lotus Tech’s digital-first, omni-channel gross sales type, consumers can position orders, reserve take a look at drives and e-book tailored services and products on-line throughout the Corporate website online and cellular utility, or in-person at Lotus retail outlets globally. Amid the Corporate’s distribution enlargement, as of June 30, 2023, Lotus Tech has amassed a world orderbook of roughly 17,000 cars international, together with Eletre, its first totally electrical hyper-SUV, and Emira, the logo’s mid-engine sports activities automobile.
“Our sturdy world order consumption demonstrates consumers’ enthusiasm for the Eletre and Emira. We think to ramp up manufacturing to fulfill tough world call for as we proceed rising our retail community,” mentioned Mr. Qingfeng Feng, Leader Government Officer of Lotus Staff. “We sit up for using the trade’s sustainable transition to battery electrical cars as we roll out world deliveries of Eletre.”
In January 2023, Lotus Tech entered right into a definitive settlement and plan of merger (the “Merger Settlement”) with L Catterton Asia Acquisition Corp (“LCAA”) (NASDAQ: LCAA), a distinct function acquisition corporate shaped by means of associates of L Catterton, a number one world consumer-focused funding company. The transactions pondered by means of the Merger Settlement are anticipated to be finished later this yr and would lead to Lotus Tech turning into a public corporate with a professional forma endeavor price of roughly US$5.6 billion.
 The selection of retail outlets contains retail outlets operated by means of Lotus Vehicles Restricted as of June 30, 2023, which might be anticipated to be transferred to Lotus Tech pursuant to a grasp distribution settlement between Lotus Technology Leading edge Restricted, a wholly-owned subsidiary of Lotus Tech (“LTIL”), and Lotus Vehicles Restricted.
About Lotus Technology
Lotus Technology Inc., headquartered in Wuhan, China, has operations throughout China, the United Kingdom, and the EU. The Corporate is devoted to handing over luxurious way of life battery electrical cars, together with SUVs and sedans, with a focal point on world-class R&D in next-generation automobility applied sciences akin to electrification, digitalisation and extra. For more info about Lotus Technology Inc., please talk over with www.group-lotus.com.
About L Catterton Asia Acquisition Corp
L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a clean take a look at corporate integrated for the aim of effecting a merger, capital inventory change, asset acquisition, inventory acquire, reorganization or an identical trade aggregate with a number of companies or entities. Whilst it is going to pursue an preliminary goal trade in any trade or sector, it has targeted its seek on high-growth, user generation sectors throughout Asia. For more info about L Catterton Asia Acquisition Corp, please talk over with www.lcaac.com.
About L Catterton
L Catterton is a market-leading consumer-focused funding company, managing roughly $33 billion of fairness capital and 3 multi-product platforms: non-public fairness, credit score and actual property. Leveraging deep class perception, operational excellence, and a extensive community of strategic relationships, L Catterton’s workforce of greater than 200 funding and running execs throughout 17 workplaces companions with control groups to power differentiated price advent throughout its portfolio. Based in 1989, the company has remodeled 250 investments in one of the international’s maximum iconic user manufacturers. For more info about L Catterton, please talk over with lcatterton.com.
Ahead-Taking a look Statements
This press free up (the “Press Liberate”) incorporates forward-looking statements inside the that means of Segment 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Segment 21E of the U.S. Securities Trade Act of 1934, which are in response to ideals and assumptions and on knowledge lately to be had to Lotus Tech and LCAA. All statements instead of statements of historic truth contained on this Press Liberate are forward-looking statements. In some circumstances, you’ll establish forward-looking statements by means of terminology akin to “might”, “will have to”, “be expecting”, “intend”, “will”, “estimate”, “await”, “imagine”, “are expecting”, “attainable”, “forecast”, “plan”, “search”, “long term”, “suggest” or “proceed”, or the negatives of those phrases or permutations of them or an identical terminology even supposing no longer all forward-looking statements comprise such terminology. Such forward-looking statements are matter to dangers, uncertainties, and different components which might purpose precise effects to range materially from the ones expressed or implied by means of such ahead shopping statements.
Those forward-looking statements are based totally upon estimates and assumptions that, whilst regarded as cheap by means of LCAA and its control, and Lotus Tech and its control, because the case is also, are inherently unsure. Components that can purpose precise effects to range materially from present expectancies come with, however aren’t restricted to: (1) the incidence of any match, exchange or different instances that might give upward push to the termination of definitive agreements with recognize to the proposed Industry Mixture between LCAA, Lotus Tech and the opposite events thereto (the “Industry Mixture”); (2) the result of any prison complaints that can be instituted towards LCAA, the Mixed Corporate or others following the announcement of the Industry Mixture and any definitive agreements with recognize thereto; (3) the volume of redemption requests made by means of LCAA public shareholders and the lack to finish the Industry Mixture because of the failure to acquire approval of the shareholders of LCAA, to acquire financing to finish the Industry Mixture or to meet different stipulations to ultimate and; (4) adjustments to the proposed construction of the Industry Mixture that can be required or suitable because of appropriate regulations or rules or as a situation to acquiring regulatory approval of the Industry Mixture; (5) the facility to fulfill inventory change checklist requirements following the consummation of the Industry Mixture; (6) the danger that the Industry Mixture disrupts present plans and operations of the Corporate because of the announcement and consummation of the Industry Mixture; (7) the facility to acknowledge the predicted advantages of the Industry Mixture, that could be suffering from, amongst different issues, festival, the facility of the Mixed Corporate to develop and arrange development profitably, take care of relationships with consumers and providers and retain its control and key staff; (8) prices associated with the Industry Mixture; (9) dangers related to adjustments in appropriate regulations or rules and Lotus Tech’s global operations; (10) the likelihood that Lotus Tech or the Mixed Corporate is also adversely suffering from different financial, trade, and/or aggressive components; (11) Lotus Tech’s estimates of bills and profitability; (12) Lotus Tech’s talent to take care of agreements or partnerships with its strategic spouse Geely Retaining and to expand new agreements or partnerships; (13) Lotus Tech’s talent to take care of relationships with its current providers and strategic companions, and supply new providers for its vital parts, and to finish construction out its provide chain, whilst successfully managing the dangers because of such relationships; (14) Lotus Tech’s reliance on its partnerships with car charging networks to offer charging answers for its cars and its strategic companions for servicing its cars and their built-in tool; (15) Lotus Tech’s talent to determine its logo and seize further marketplace proportion, and the dangers related to unfavourable press or reputational hurt, together with from lithium-ion battery cells catching fireplace or venting smoke; (16) delays within the design, manufacture, release and financing of Lotus Tech’s cars and Lotus Tech’s reliance on a restricted selection of car fashions to generate revenues; (17) Lotus Tech’s talent to ceaselessly and swiftly innovate, expand and marketplace new merchandise; (18) dangers associated with long term marketplace adoption of Lotus Tech’s choices; (19) will increase in prices, disruption of provide or scarcity of fabrics, particularly for lithium-ion cells or semiconductors; (20) Lotus Tech’s reliance on its companions to fabricate cars at a excessive quantity, a few of that have restricted revel in in generating electrical cars, and at the allocation of enough manufacturing capability to Lotus Tech by means of its companions to ensure that Lotus Tech so to building up its car manufacturing capacities; (21) dangers associated with Lotus Tech’s distribution type; (22) the results of festival and the excessive obstacles to access within the automobile trade, and the tempo and intensity of electrical car adoption most often on Lotus Tech’s long term trade; (23) adjustments in regulatory necessities, governmental incentives and gas and effort costs; (24) the have an effect on of the worldwide COVID-19 pandemic on LCAA, Lotus Tech, Lotus Tech’s publish trade aggregate’s projected result of operations, monetary efficiency or different monetary metrics, or on any of the foregoing dangers; and (25) different dangers and uncertainties set forth within the phase entitled “Possibility Components” and “Cautionary Word Relating to Ahead-Taking a look Statements” in LCAA’s ultimate prospectus in terms of its preliminary public providing (Report No. 333-253334) declared efficient by means of the SEC on March 10, 2021, and different paperwork filed, or to be filed, with the U.S. Securities and Trade Fee (the “SEC”) by means of LCAA or Lotus Tech, together with the Registration/Proxy Commentary (as outlined beneath). There is also further dangers that neither LCAA nor Lotus Tech right now know or that LCAA or Lotus Tech lately imagine are immaterial that might additionally purpose precise effects to range from the ones contained within the forward-looking statements.
Not anything on this Press Liberate will have to be considered a illustration by means of someone that the forward-looking statements set forth herein might be accomplished in any specified period of time, or in any respect, or that any of the pondered result of such forward-looking statements might be accomplished in any specified period of time, or in any respect. The forward-looking statements on this Press Liberate constitute the perspectives of LCAA and Lotus Tech as of the date they’re made. Whilst LCAA and Lotus Tech might replace those forward-looking statements one day, LCAA and Lotus Tech in particular disclaim any legal responsibility to take action, apart from to the level required by means of appropriate legislation. You will have to no longer position undue reliance on forward-looking statements.
In reference to the proposed Industry Mixture, (i) Lotus Tech will document with the SEC a registration commentary on Shape F-4 containing a initial proxy commentary of LCAA and a initial prospectus (the “Registration/Proxy Commentary”), and (ii) LCAA will document a definitive proxy commentary in terms of the proposed Industry Mixture (the “Definitive Proxy Commentary”) and can mail the Definitive Proxy Commentary and different related fabrics to its shareholders after the Registration/Proxy Commentary is asserted efficient. The Registration/Proxy Commentary will comprise vital details about the proposed Industry Mixture and the opposite issues to be voted upon at a gathering of LCAA shareholders to be held to approve the proposed Industry Mixture. This Press Liberate does no longer comprise the entire knowledge that are supposed to be regarded as in regards to the proposed Industry Mixture and isn’t supposed to shape the root of any funding choice or some other choice in recognize of the Industry Mixture.
Ahead of making any balloting or different funding choices, securityholders of LCAA and different individuals are recommended to learn, when to be had, the Registration/Proxy Commentary and the amendments thereto and the Definitive Proxy Commentary and different paperwork filed in reference to the proposed Industry Mixture, as those fabrics will comprise vital details about LCAA, Lotus Tech and the Industry Mixture. When to be had, the Definitive Proxy Commentary and different related fabrics for the proposed Industry Mixture might be mailed to shareholders of LCAA as of a report date to be established for balloting at the proposed Industry Mixture. Shareholders can even be capable of download copies of the Registration/Proxy Commentary, the Definitive Proxy Commentary and different paperwork filed with the SEC, at no cost, as soon as to be had, on the SEC’s website online at www.sec.gov, or by means of directing a request to: LCAA, 8 Marina View, Asia Sq. Tower 1, #41-03, Singapore 018960, consideration: Katie Matarazzo.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Contributors within the Solicitation
LCAA and Lotus Tech, and likely in their administrators and govt officials, is also deemed contributors within the solicitation of proxies from LCAA’s shareholders with recognize to the proposed Industry Mixture. An inventory of the names of the ones administrators and govt officials and an outline in their pursuits in LCAA is about forth in LCAA’s filings with the SEC (together with LCAA’s ultimate prospectus associated with its preliminary public providing (Report No. 333-253334) declared efficient by means of the SEC on March 10, 2021), and are to be had without spending a dime on the SEC’s internet web site at www.sec.gov, or by means of directing a request to LCAA, 8 Marina View, Asia Sq. Tower 1, #41-03, Singapore 018960, consideration: Katie Matarazzo. Additional info in regards to the pursuits of such contributors and different individuals who might, below the foundations of the SEC, be deemed contributors within the solicitation of the shareholders in reference to the proposed Industry Mixture might be contained within the Registration/Proxy Commentary for the proposed Industry Mixture when to be had.
No Be offering and Non-Solicitation
This Press Liberate isn’t a proxy commentary or solicitation of a proxy, consent or authorization with recognize to any securities or in recognize of the prospective transaction and shall no longer represent an be offering to promote or a solicitation of an be offering to shop for the securities of LCAA or Lotus Tech, nor shall there be any sale of one of these securities in any state or jurisdiction through which such be offering, solicitation, or sale could be illegal previous to registration or qualification below the securities regulations of such state or jurisdiction. No be offering of securities will probably be made apart from by way of a prospectus assembly the necessities of the Securities Act.
For inquiries relating to Lotus Tech
For inquiries relating to LCAA and/or L Catterton
Julie Hamilton (U.S.)
+1 203 742 5185
Bob Ong / Bonnie Gan (Asia)
[email protected] / [email protected]
+65 6672 7619 / +86 10 8555 1807
SOURCE Lotus Technology Inc.