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Geely exercises its Put Option on Lotus UK, enabling reintegration of all businesses under the Lotus brand

Lotus Geely

Bear with me, as this one is a bit complicated and jargon-heavy. Lotus Technology Inc. announced that Geely, the majority owner of its vehicle manufacturing business Lotus UK, exercised its put option earlier this week to sell its 51% stake in the latter company back to the former company. In layperson’s terms, Geely is out, so Lotus Tech has to buy the 51% of Lotus UK back, putting all those respective businesses back under one umbrella. Still with me? More below.

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Polestar unveils a new collection of ‘Arctic Circle’ EVs that will be shown off at an ice race [Video]

Polestar Arctic

Polestar has unveiled a new collection of one-off “Arctic Circle” EVs designed to showcase the brand’s performance DNA. The rally-inspired upgrades have now been applied to the Polestar 2, 3, and 4 EVs and were put through their paces in the frigid Arctic before they make their public debut at an ice race in Austria. See more in Polestar’s video below.

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Baidu- and Geely-backed JIDU brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec

JiYue ROBO X

JIDU, aka JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.

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Baidu-backed JiYue brand will launch its 07 sedan in September with up to 545 miles of range

JiYue 07

Media out of China reports that JiYue’s second all-electric model, the 07, has reached some local showrooms and will officially launch in September. Advertised as a fierce competitor to the Tesla Model 3, the JiYue 07 will arrive in multiple powertrain and battery size options, offering impressive (CLTC) range options.

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Geely-owned EV brand ZEEKR sits on cusp of a US IPO seeking valuation of $5.13 billion

ZEEKR IPO

Young EV-centric brand ZEEKR is continuing its efforts to become a globally recognized name in the space as it gears up for an initial public offering (IPO) on the New York Stock Exchange (NYSE) this week. The Geely-owned sub-brand will go public later this week and seeks a valuation of over 5 billion dollars.

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Funding secured: Polestar’s (PSNY) outlook bounces back with $1 billion in external cash

Polestar funding

Who needs Volvo anyway? Shortly after co-parent company Volvo Cars announced plans to cut ties with Polestar, the EV-centric brand has turned to an all-star lineup of international banks for external funding totaling close to one billion dollars. Polestar’s other owner, Geely Holding, is still very much involved and will also help Polestar continue work to roll out its two incoming electric SUVs and beyond.

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Geely Auto inks deal with ZEEKR to sell its EVs in Mexico, hints at expansion to South America

ZEEKR Mexico

Geely Holding Group subsidiary Geely Auto has announced a vehicle purchase agreement with fellow marque brand ZEEKR to sell its EVs and aftermarket parts in Mexico. With the agreement, Geely hopes to fast-track ZEEKR’s line of advanced new energy vehicles to Mexican consumers hungry for more sustainable alternatives to combustion models as a stepping stone to further expansions South to Latin America.

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