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Geely to float arm of carmaker Lotus via $5.4bn deal with LVMH vehicle

Division of sports car group planning electric SUVs will list on Nasdaq this year

A Lotus Emira sports car is seen at the Auto Zurich Car Show 2022 in Zurich in November.   © Reuters

LONDON (Financial Times) -- China's Geely will list part of its sports car brand Lotus in the U.S. through a merger with a shell company that was founded by an LVMH-backed investment group in a deal that values the automaker at $5.4 billion.

The merger announced on Tuesday will be between Lotus Technology, which has a plant in China and plans to make electric sport utility vehicles, and L Catterton Asia Acquisition (LCAA), a special purpose acquisition vehicle (SPAC) founded by L Catterton.

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