Luxury EV maker Lotus Tech secures $870m ahead of SPAC deal with L Catterton

Luxury EV maker Lotus Tech secures $870m ahead of SPAC deal with L Catterton

FILE PHOTO: A car is displayed on a rooftop as British sports car maker Lotus unveils its new fully electric "Emeya" Hyper-GT in New York City, U.S., Sept. 7, 2023. REUTERS/Caitlin Ochs/File Photo

Lotus Technology, the luxury electric vehicle arm of sports car brand Lotus, said on Tuesday it has secured $870 million in financing ahead of the completion of its merger with blank check company L Catterton Asia Acquisition (LCAA).