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ZHEJIANG GEELY HOLDING GROUP COMPLETES GROUP LOTUS PLC TRANSACTION

• Geely Holding and Etika Automotive Announce Joint Board
• Mr. Daniel Donghui Li appointed Chairman of Lotus Board
• Mr. Jean-Marc Gales to continue in his role as CEO

September 29th, Kuala Lumpur. Zhejiang Geely Holding Group (Geely Holding) today completed the transaction to purchase a majority stake in the British luxury sports brand Lotus. 
Geely Holding now owns a majority stake of 51% in Lotus Advance Technologies Sdn Bhd (Lotus) with a minority 49% being held by Etika Automotive (Etika), a Malaysian automotive group.
Company Structure
With the transaction completed, the Board of Directors for Lotus has been formally established, consisting of five seats of which three are appointed by Geely Holding and two are appointed by Etika.
Under this structure, Geely Holding has appointed Geely Holding’s Executive Vice President and Chief Financial Officer, Mr. Daniel Donghui Li as Chairman of the Lotus Board. Mr. Feng Qing Feng, Geely Auto Vice President and Chief Technology Officer a…

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