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Lotus Tech Studies U.S., Hong Kong IPO to Fund Push Into EVs

  • Car development arm may go public in 2023, Group CEO says
  • Lotus Cars may also seek future U.K. initial public offering
The Lotus Emira

The Lotus Emira

Source: Lotus

Lotus Tech, which develops cars for the Lotus brand, is working on preliminary plans for an initial public offering in the U.S. or Hong Kong to help fund the transition of the iconic maker of sports and racing cars to an all-electric automaker.

The company is studying a potential IPO as soon as 2023 if sales go well, Group Lotus Chief Executive Officer Feng Qingfeng said in an interview Tuesday. There’s also the possibility that Lotus Cars will list in the U.K., but no timetable has been set, he said.