Geely’s Iconic Lotus Cars Said to Mull Raising $1 Billion
- Lotus Cars aims to expand into electric vehicles in China
- Geely sounding out potential interest in private fundraising
The Lotus Evija electric vehicle
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Zhejiang Geely Holding Group Co. is considering raising about $1 billion to help expand its iconic British sports and racing automotive business Lotus Cars into the electric vehicles market in China, according to people familiar with the matter.
Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about $5 billion, the people said, asking not to be identified because the matter is private.