Lotus Technology Inc., recognized globally for luxury electric vehicles, confirmed today that its division, Lotus Robotics, will license its cutting-edge intelligent driving software to prominent automobile manufacturers.
Why It Matters
This licensing move underscores the significant research & development (R&D) achievements behind Lotus Tech’s increasing technology-driven revenues. This pivotal development is in line with the company’s ambitious Vision80 business transformation strategy, which targets advancements and growth leading up to its 80th anniversary in 2028.
Key Points
- Lotus Robotics boasts exceptional software proficiencies, crafts paramount intelligent driving algorithms, and crucial testing and simulation instruments.
- The company’s proprietary intelligent driving systems are a cornerstone of its luxury electric vehicles range. Notably:
- The Eletre, a full-electric hyper SUV, started worldwide deliveries in March.
- The Emeya, an electric hyper-GT, was unveiled in New York on September 7.
- These vehicles integrate groundbreaking tech features, including the global debut of a deployable LiDAR system. They also house top-tier hardware that facilitates comprehensive intelligent driving solutions. These span across various scenarios from highways and urban drives to parking, with future enhancements planned via over-the-air updates.
- Lotus Tech initiated its intelligent driving R&D journey in 2018. Their commitment is to forge the finest platform for advanced driving tech.
- Lotus Robotics, with teams in Germany and China, has created exemplary hardware and award-winning software.
- Their accomplishments include triumphs in the CVPR 2023 Online HD Map Construction Challenge and the 2022 Argoverse Motion Forecasting Competition.
Bottom Line
Mr. Qingfeng Feng, the CEO of Lotus Tech, expressed satisfaction in seeing Lotus Robotics’ top-tier technologies utilized beyond their own luxury electric cars. These collaborations magnify Lotus Tech’s potential in technology-based growth. Furthermore, as declared in January 2023, Lotus Tech’s upcoming merger with L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is poised to conclude later this year, transforming Lotus Tech into a publicly traded entity valued at an estimated US$5.6 billion.
