Wed. Oct 4th, 2023
    Lotus Technology’s Intelligent Driving Arm to License Leading Automakers

    Lotus Technology Inc. has announced that its intelligent driving arm, Lotus Robotics, will be licensing its intelligent driving technology and software to several leading automakers. Lotus Robotics has developed advanced software capabilities, intelligent driving algorithms, and testing and simulation tools. These technologies are used in Lotus Technology’s luxury lifestyle electric vehicles, such as the Eletre and Emeya models. The vehicles feature innovative technologies like the world’s first deployable LiDAR system and are fully embedded with hardware that supports end-to-end intelligent driving solutions across various scenarios. The company plans to integrate these premium functions into its vehicles through over-the-air updates.

    Lotus Technology’s CEO, Qingfeng Feng, expressed his satisfaction with Lotus Robotics’ technologies being applied beyond their own vehicles. This development showcases Lotus Tech’s growth potential in the intelligent driving sector and aligns with their Vision80 strategy of becoming an intelligent, all-electric provider of sustainable luxury mobility. Lotus Robotics has a strong R&D focus, with teams based in Germany and China, and has won awards in prestigious competitions.

    Lotus Technology is currently undergoing a merger agreement with L Catterton Asia Acquisition Corp, which is expected to result in Lotus Tech becoming a public company with a pro forma enterprise value of approximately $5.6 billion.

    Sources: Lotus Technology, L Catterton Asia Acquisition Corp, L Catterton