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Lotus Technology's First Electric Hyper-GT Emeya Debuts in New York

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Published
09/13/2023 by

Lotus Technology Inc. ("Lotus Tech" or the "Company"), a leading global luxury electric vehicle maker, today announced the debut of Emeya, the Company's first and one of the world's most advanced electric hyper-GT vehicles.  

Emeya integrates Lotus's 75-year expertise in engineering and design with advanced innovations to deliver a distinct driving experience in a four-door luxury performance vehicle. Equipped with the brand's iconic active aerodynamic features and high-power dual motors, Emeya can accelerate from 0-62mph (0-100km/h) in 2.8 seconds, making it one of the fastest electric GTs in the world. Emeya demonstrates Lotus's market-leading charging capabilities, and can top up approximately 150km of range in just 5 minutes using a 350kW DC fast charger. Emeya has also been meticulously designed with the latest sustainable materials to reduce the carbon footprint of its production. Production of Emeya is expected to commence in 2024.

Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech, said, "We are proud and excited to announce the debut of Emeya today. Amid robust BEV market demand, Emeya adds to our strong offering in the luxury EV segment to better serve customers' growing needs and preferences. Lotus Tech looks forward to embarking on an exciting phase as we continue to expand our diverse range of models."

Emeya will join Lotus Tech's line-up of luxury lifestyle electric vehicles as the Company continues its transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider by 2028. The debut of Emeya marks an important milestone in Lotus's Vision 80 strategy and follows the first global deliveries of Eletre, the brand's maiden fully electric hyper SUV, which began in March this year.

With more than 190 stores in its global retail network, the Company had accumulated global orders of approximately 17,000 units as of June 30, 2023, for Eletre and Emira, the brand's mid-engine sports car. With the Company's plan to further broaden its product portfolio by launching the Type 134, a D-segment BEV SUV, and Type 135, an all-electric sports car, over the next four years, Lotus Tech expects to achieve a 100% BEV portfolio by 2027.

As announced in January 2023, Lotus Tech entered into a definitive agreement and plan of merger (the "Merger Agreement") with L Catterton Asia Acquisition Corp ("LCAA") (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm. The transactions contemplated by the Merger Agreement are expected to be completed later this year and would result in Lotus Tech becoming a public company with a pro forma enterprise value of approximately US$5.6 billion.

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