Lotus Technology, the Nasdaq-listed, Geely-owned mobility company, has completed its acquisition of 100% of the equity interests in Lotus UK, the Hethel, Norfolk-based operator of Lotus' sports car manufacturing and its Lotus Engineering consultancy. The deal brings Lotus' engineering, manufacturing and product development functions under a single global structure for the first time.

The acquisition followed the exercise of put options by Geely HK and Etika, first confirmed in an AM Online report. Lotus UK's manufacturing operation at Hethel, Lotus Engineering and Lotus Tech's international product development and commercial activities now sit within one organisation.

Lotus Engineering is a specialist automotive engineering consultancy providing advanced engineering and technical services to OEMs and Tier 1 suppliers, with decades of expertise in lightweight structures, aerodynamics and chassis dynamics, as set out in the company's official filing. The consultancy has operated from Hethel, Norfolk, for 78 years alongside Lotus' sports car manufacturing base.

Qingfeng Feng, chief executive officer of Lotus Tech, said: "Lotus is one brand and one strategy, and from today it is one business. Everything that makes Lotus a Lotus - the engineering, the obsession, the discipline - now sits in a single organization."

Feng added that the integration "unifies the brand, increasing our global competitiveness and accelerating product development and go-to-market speed," calling it "an important step in advancing our Focus 2030 strategy."

The structural driver is the need to align Lotus Engineering's technical consultancy work directly with sports car manufacturing and product development under one governance structure, replacing a split ownership arrangement between Lotus Tech, Geely HK and Etika. Lotus said the integrated structure would strengthen collaboration across engineering, manufacturing, product development and commercial operations.

For Lotus dealers, the most significant stated aims are faster product development and go-to-market activity, supported by closer integration between engineering, manufacturing and commercial functions. Lotus confirmed Hethel would remain central to the group, housing both its sports car production line and Lotus Engineering's consultancy operations.

For the sector, the acquisition reflects a shift toward fully integrated engineering-to-manufacturing structures among global automotive groups. Lotus said the move would also simplify governance and support delivery of its Focus 2030 strategy.

Source: am-online.com / sec.gov