Geely sells 51% of UK Lotus Cars to Lotus Technologies

Lotus Technology announced that Geely, the major shareholder of its automobile manufacturing business unit, Lotus Cars UK, made an important decision earlier this week - exercising its put option to sell back its 51% stake in Lotus Cars UK to Lotus Technology. This means that Geely will withdraw from the business of Lotus Cars UK, so Lotus Technology needs to buy back these shares. This move will refocus the relevant businesses under the Lotus brand.