New Lotus company

[Cutting42]

Got and email today detailing a change to the organisation around customer support

 

[Nova]

Let the conspiracy theories fly! I have a few of my own.

 

[ADC]

Just found this in my inbox as well... still trying to grok the implications. Better customer service, or worse?

 

[MIGZ]

Limit liability…….

 

[benjh1028]

"continued best-in-class support"

 

[Hell4Leather]

"continued best-in-class support"

That’s coming “soon”

 

[Porter]

Well that's about as clear as mud.

 

[Johnson]

Probably to bring it into line with the upcoming share market listing:

https://www.drive.com.au/news/lotus-electric-car-division-to-go-public/#

The article says that “Lotus Cars” will continue to exist. I guess it will be the privately owned British manufacturing division, now relinquishing the sales/marketing division to Lotus Technologies.

I‘m still undecided if those stocks are a good investment…

 

[TomE]

So the transfer takes place with effect from 1 Jan 2023 and they are telling you 8 months later?

Is that why service has been patchy since the start of the year - people have been contacting the wrong company?

 

[Porter]

I'm actually wondering whether domestic vs. foreign ownership of Lotus Cars (Hethel) might factor into something regulatory for the company in the UK. As a major manufacturing concern with a significant number of employees, the government of the UK has a vested interest in making sure the company continues to exist as a UK entity.

 

[Nick in Sydney]

Based on the July SPAC investor presentation, my interpretation is that sports car manufacturing, design and engineering remains with Lotus Cars.

All global car sales, distributor relationships, marketing and customer care has been pulled into the Chinese group that will go to IPO/SPAC. The Chinese group also has an option to acquire Lotus Cars in the future.

 

[TomE]

Based on the July SPAC investor presentation, my interpretation is that sports car manufacturing, design and engineering remains with Lotus Cars.

All global car sales, distributor relationships, marketing and customer care has been pulled into the Chinese group that will go to IPO/SPAC. The Chinese group also has an option to acquire Lotus Cars in the future.

The timing of the emails coincides with first UK Eletre deliveries and the announcement of Emeya. So moving the sales, distribution, and customer care aspects from Lotus Cars to another Chinese-owned UK entity fits with Chinese-built EVs being added to the portfolio of cars on UK roads.

 

[benjh1028]

Based on the July SPAC investor presentation, my interpretation is that sports car manufacturing, design and engineering remains with Lotus Cars.

All global car sales, distributor relationships, marketing and customer care has been pulled into the Chinese group that will go to IPO/SPAC. The Chinese group also has an option to acquire Lotus Cars in the future.

Lotus is going public through a SPAC?

 

[EyeFour Eemeerah!]

Just rolls off the tongue doesn’t it!?!? Blah blah blah. I know politicians who can use this in their teleprompter.

 

[Porter]

Lotus is going public through a SPAC?

The whole concept of corporate subsidiaries that becomes publicly traded but are 100% controlled by their parent company is such an absurd notion.

 

[Nick in Sydney]

Lotus is going public through a SPAC?

Yes, they are going to back Lotus Technology into a SPAC that is currently owned by L Catterton, the luxury brand private equity firm.

https://www.sec.gov/Archives/edgar/data/1841024/000110465923008575/tm234838d1_ex99-2.htm