Lotus is not wholly owned by Geely. In August 2026, Nasdaq-listed Lotus Technology Inc. completed its acquisition of Lotus Advance Technologies Sdn Bhd, the operating entity it calls “Lotus UK.” Geely and Etika received shares in Lotus Technology as part of the wider transaction. Geely remains influential, but the deal was not a cash sale that left Geely owning 100% of Lotus.
What did Lotus Technology buy?
Lotus Technology announced on August 25, 2026, that it had completed the acquisition of all equity in Lotus Advance Technologies Sdn Bhd on August 21. The company refers to that entity as “Lotus UK” in its filings. It described the acquisition as bringing the British sports-car engineering and manufacturing business and its intelligent-vehicle technologies under one corporate structure. That is management’s stated rationale; it does not by itself establish what business results the consolidation will produce. Lotus Technology’s closing announcement
The distinction between the two companies matters: Lotus Advance Technologies is the acquired operating entity, while Lotus Technology Inc. is the listed parent whose shares were part of the transaction.
How Geely and Etika became Lotus Technology shareholders
The acquisition followed put-option agreements made in January 2023. Under the terms described in Lotus Technology’s April 2026 Form 20-F, the options could be exercised if the Lotus UK group sold more than 5,000 vehicles in 2024. That condition had been met by December 31, 2024. Geely HK exercised its option for its 51% interest on April 14, 2025, and Etika exercised its option for its 49% interest on June 30, 2025. Lotus Technology’s 2026 Form 20-F
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The consideration was settled in shares of Lotus Technology, not simply cash paid to Geely and Etika:
| Recipient | Lotus Technology shares received | Interest in Lotus UK covered by option |
|---|---|---|
| Geely HK | 24,477,676 ordinary shares | 51% |
| Etika | 23,517,767 ordinary shares | 49% |
The share transfers from Lotus Group International Limited were completed on June 10, 2026. As a result, the former owners of Lotus UK received stakes in its listed parent as part of the consolidation. Lotus Technology’s June 2026 Schedule 13D/A
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Does Geely still own Lotus?
That depends on what “Lotus” means. Lotus UK became wholly owned by Lotus Technology. Lotus Technology itself has multiple shareholders, so ownership of the operating entity and ownership of its listed parent are not the same question.
In a June 2026 Schedule 13D/A, Li Shufu reported beneficial ownership of 338,624,525 Lotus Technology ordinary shares, or 52.3% of the class. The filing attributes shares through several entities, including Lotus Advanced Technology Limited Partnership, Lotus Technology International Investment Limited, Geely Investment Holding Ltd, ECARX Holdings Inc., and Geely HK. This is a dated beneficial-ownership disclosure, not an established exact percentage after the later transaction close or any subsequent changes. Etika also received Lotus Technology shares in the settlement, so the transaction did not make the listed parent solely Geely-owned. June 2026 Schedule 13D/A
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So “Geely sold Lotus” is incomplete: Geely HK exercised a pre-existing option and received shares in Lotus Technology. “Geely owns 100% of Lotus” is also inaccurate: the acquired company is owned by Lotus Technology, whose shares are held by multiple shareholders.
Geely’s operating connection with Lotus continues
The ownership restructuring did not end every business relationship. Lotus Technology’s 2026 Form 20-F says its EV lifestyle models are manufactured through a contract-manufacturing partnership using Geely Holding’s Wuhan facilities. The filing identifies the Eletre and Emeya as lifestyle vehicles, and says the company unveiled its first PHEV hyper-SUV, For Me—called Eletre X in Europe—in China in March 2026. Lotus Technology’s 2026 Form 20-F
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The same filing reports that Lotus Technology delivered 6,520 vehicles in 2025, combining lifestyle vehicles with Lotus-brand sports cars distributed through LTIL. That figure is for the company’s reported 2025 deliveries, not a standalone count for one model or one manufacturing site.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to describe Lotus’s ownership accurately
- For the operating company: Lotus Advance Technologies (called Lotus UK in Lotus Technology’s filings) is wholly owned by Lotus Technology following the August 2026 close.
- For the listed parent: Lotus Technology has multiple shareholders. A June 2026 filing reported Li Shufu’s beneficial ownership as 52.3%, but that is not a confirmed post-close percentage.
- For the transaction: Geely HK and Etika exercised options over their Lotus UK interests and received Lotus Technology shares as settlement.
- For the continuing relationship: Lotus Technology reported a Geely manufacturing partnership for EV lifestyle models using Wuhan facilities.
These distinctions explain why Lotus Technology’s chief executive, Qingfeng Feng, described the deal as making Lotus “one business” in the company’s August 25 closing announcement. That statement reflects the company’s characterization of the integration, not a guarantee of future performance. Lotus Technology’s closing announcement
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