Geely sells Lotus back to Lotus. Wait, what?

No, you read that right. Geely has exercised its Put Option on 14 April 2025, which required Lotus to purchase 51% of the equity interests in Lotus U.K. Still with me? No? Okay, let’s break it down further.

Geely acquired a 51% controlling stake in Lotus in 2017, making it the majority owner and giving it majority control of Lotus' manufacturing division in the U.K. and its consultancy division, Lotus Engineering.

However, Lotus Technology Inc. (Lotus Tech), the design business of Lotus Group, has been operating separately since. In 2023, both parties signed a Put Option on Geely's 51% stake in Lotus U.K.'s equity interest, which was activated in April 2025, requiring Lotus Tech to purchase that majority stake back.

Lotus Tech expects to complete this deal via a non-cash transaction based on a pre-agreed pricing method, which will see it gain control of Lotus U.K. and integrate all businesses under the Lotus brand. This is expected to be completed in 2025, subject to potential regulatory approvals.

Mr Qingfeng Feng, CEO of Lotus Tech, stressed that this acquisition marks an important milestone in integrating all businesses under the Lotus brand.