Sun. Sep 24th, 2023
    Lotus Robotics to License Intelligent Driving Technology to Leading Automakers

    Lotus Technology Inc. has announced that its intelligent driving arm, Lotus Robotics, will license its intelligent driving technology and software to several leading automakers. Lotus Robotics has developed advanced software capabilities and key intelligent driving algorithms, as well as testing and simulation tools.

    The company’s intelligent driving systems are currently being used in all of Lotus Technology’s luxury lifestyle electric vehicles, including the Eletre and Emeya models. These vehicles feature innovative technologies such as the world’s first deployable LiDAR system and are fully embedded with hardware that supports end-to-end intelligent driving solutions.

    Lotus Robotics has received recognition for its technology, winning awards in competitions such as the CVPR 2023 Online HD Map Construction Challenge and the 2022 Argoverse Motion Forecasting Competition. The company has also built a strong R&D team across Germany and China.

    This announcement highlights Lotus Tech’s growth potential in the technology sector and aligns with the company’s Vision80 strategy to become an intelligent, all-electric provider of sustainable luxury mobility ahead of its 80th anniversary in 2028. Lotus Tech’s merger agreement with L Catterton Asia Acquisition Corp is expected to be completed later this year, resulting in Lotus Tech becoming a public company with an estimated enterprise value of approximately US$5.6 billion.

    Lotus Technology Inc. is focused on delivering luxury lifestyle battery electric vehicles with a strong emphasis on R&D in next-generation automobility technologies. L Catterton Asia Acquisition Corp is a blank check company that focuses on high-growth consumer technology sectors across Asia.

    With this licensing deal, Lotus Robotics aims to advance the development of intelligent driving solutions and expand its reach beyond Lotus Technology’s own vehicles. This collaboration demonstrates the company’s commitment to driving technological innovation in the automotive industry.

    – Lotus Technology Inc.
    – L Catterton Asia Acquisition Corp
    – L Catterton