China's Geely-owned Lotus Technology valued at $4.5b in fundraising

China's Geely-owned Lotus Technology valued at $4.5b in fundraising

Visual from Geely's website

Lotus Technology, the technology arm of sports car brand Lotus, said on Wednesday it had completed a fundraising that valued the business at nearly $4.5 billion.

The unit, part of Group Lotus which is in turn owned jointly by Chinese automaker Geely and Malaysia’s Etika Automotive, said it would use the proceeds for product innovation and developing global distribution networks.

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