Geely’s iconic Lotus Cars plans to raise RM4.13bil

Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about US$5bil

HONG KONG: Zhejiang Geely Holding Group Co is considering raising about US$1bil (RM4.13bil) to help expand its iconic British sports and racing automotive business Lotus Cars into the electric vehicles (EVs) market in China, according to people familiar with the matter.

Geely is working with advisers to sound out potential investor interest in a funding round that could value Lotus’s EV operations at about US$5bil, the people said, asking not to be identified because the matter is private.