Lotus Technology (LOT) has released an update.
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Lotus Technology Innovative Limited has entered into an agreement to sell and transfer 80% of its shares in Lotus Tech Innovation Center GmbH to Geely UK Limited. The deal stipulates the transfer of shares with the rights to profits and dividends, reshaping the company’s shareholder structure to reflect Geely UK Limited’s majority stake. This transaction signals a significant shift in ownership, poised to make waves in the automotive research and development sector.
For further insights into LOT stock, check out TipRanks’ Stock Analysis page.
