Geely unit Lotus Tech aims to raise up to US$500mil in funds - CFO

Lotus Technology, part of Group Lotus which is in turn owned jointly by the Chinese automaker and Malaysia's Etika Automotive, intends to kick off the funding round before Christmas.

SHANGHAI (Reuters) - Lotus Technology, a new unit of China's Geely set up to develop the technology to power Lotus sports cars, is planning to raise US$400 million to US$500 million before the end of this year, its chief financial officer told Reuters.

Lotus Technology, part of Group Lotus which is in turn owned jointly by the Chinese automaker and Malaysia's Etika Automotive, intends to kick off the funding round before Christmas, Alexious Lee said in an interview.