Mon. Oct 2nd, 2023
    Lotus Tech’s Intelligent Driving Arm to License Technology to Leading Automakers

    Lotus Technology Inc., a global luxury electric vehicle manufacturer, has announced that its intelligent driving arm, Lotus Robotics, will begin licensing its intelligent driving technology and software to several leading automakers. This move showcases the company’s research and development capabilities and its commitment to driving technology-related revenues.

    Lotus Robotics is known for its advanced software capabilities and the development of key intelligent driving algorithms, testing, and simulation tools. These systems are currently used in all of Lotus Tech’s luxury lifestyle electric vehicles, including the Eletre and Emeya models. The vehicles feature innovative technologies such as the world’s first deployable LiDAR system and are fully equipped with hardware that supports end-to-end intelligent driving solutions.

    By licensing its intelligent driving technology, Lotus Robotics aims to join its peers in advancing the development of intelligent driving solutions beyond its own luxury electric vehicle lineup. These partnerships demonstrate the growth potential of Lotus Tech’s technology-related initiatives and align with the company’s Vision80 strategy, which aims to transform Lotus into an intelligent, all-electric provider of sustainable luxury mobility by its 80th anniversary in 2028.

    Lotus Robotics has been actively involved in intelligent driving research and development since 2018. The company has developed best-in-class hardware, award-winning algorithms and software, and powerful cloud solutions. Its expertise has garnered recognition in world-class competitions, including the CVPR 2023 Online HD Map Construction Challenge and the 2022 Argoverse Motion Forecasting Competition.

    Lotus Tech’s ongoing development in the intelligent driving space has attracted significant attention, leading to a definitive agreement with L Catterton Asia Acquisition Corp (LCAA) in January 2023. This agreement will result in Lotus Tech becoming a public company with an estimated enterprise value of approximately US$5.6 billion.

    Lotus Technology Inc. is headquartered in Wuhan, China, and operates in China, the UK, and the EU. The company focuses on delivering luxury lifestyle battery electric vehicles, with a strong emphasis on R&D in next-generation automotive technologies. L Catterton Asia Acquisition Corp is a blank check company seeking a merger with businesses in high-growth consumer technology sectors across Asia.

    Source: PRNewswire