The Lotus Emira is produced at the Hethel factory included in the deal. Illustrative image
Lotus becomes a single company: the Hethel factory comes under Lotus Technology
Lotus Technology has completed the full takeover of Lotus UK, bringing into a single legal structure the sports cars produced in Britain, the consultancy Lotus Engineering and the division that develops and sells the brand’s electrified models.
The transaction closed on 21 August 2026, and the company announced it publicly on 25 August. Nasdaq-listed Lotus Technology now owns 100% of Lotus Advance Technologies Sdn Bhd, the legal name of the entity presented as Lotus UK.
The operation is not Geely’s first takeover of the British manufacturer. The Chinese group already controlled 51% of Lotus UK from 2017, and the remaining 49% belonged to the Malaysian company Etika Automotive. The 2026 change moves those stakes under Lotus Technology and removes the corporate separation between the British activity and the one dedicated to electrified cars.
What Lotus UK includes
Lotus UK is based at Hethel, Norfolk, where the brand designs and produces sports cars. The factory in which the Emira and Evija are built is part of the company taken over.
Lotus Engineering, the consultancy division that offers services to other manufacturers and automotive suppliers, also enters the deal. The company has experience in chassis development, mass reduction, aerodynamics and dynamic calibration of cars.
Lotus Technology had until now coordinated the global range of electrified models and the associated commercial infrastructure. Cars such as the Eletre SUV and the Emeya saloon are produced in China, while the traditional sports models have remained tied to Hethel.
Under the new structure, both activities will report to the same leadership. Chief executive Qingfeng Feng summarised the strategy as “one brand, one strategy and, from now, one company”.
How the takeover was done
The transaction had already been provided for in agreements signed before Lotus Technology reached Nasdaq. Geely International (Hong Kong) and Etika Automotive had received options through which they could require Lotus Technology to buy their stakes in Lotus UK.
The condition was that Lotus UK and its subsidiaries sell more than 5,000 cars in 2024. The threshold was exceeded. Geely exercised its option for the 51% stake in April 2025, and Etika did the same for the 49% package on 30 June 2025.
Documents filed with US stock-market authorities show that the operation was one without a direct cash payment, carried out according to a formula set earlier. The price started from Lotus UK’s 2024 revenues and was adjusted with the company’s cash and debts.
In June 2026, Geely HK received 24,477,676 Lotus Technology shares, and Etika 23,517,767 shares, as part of the option settlement. The final release does not publish a total value in euro for the takeover.
What Lotus wants to achieve
The company says integration should simplify decisions, unite research and development activities and better coordinate suppliers, production and global sales.
In practice, British engineers specialised in chassis and road behaviour can work directly with the teams developing electric platforms and software systems. In the other direction, the factory and projects at Hethel can more easily use components and technical resources from the Geely ecosystem.
Motor1 reports that Lotus Engineering will give priority to internal projects. The official release confirms faster collaboration, but does not announce an end to consultancy contracts for external clients.
What happens to the Hethel factory
Lotus says the brand’s design and engineering will remain anchored in Britain. The announcement explicitly includes the sports-car factory and Lotus Engineering in the plan for the integrated company.
Even so, the takeover comes after a difficult period for the British operations. In August 2025, Lotus announced the elimination of up to 550 jobs at Hethel, from a total of about 1,300 employees. The staff reduction fed questions about the future of local production.
The 2026 transaction does not contain a new redundancy plan and does not announce the factory’s closure. Future volumes for the Emira and Evija have not been detailed either. For that reason, legal unification cannot by itself be read as a guarantee of the number of jobs or the level of production at Hethel.
What it means for Lotus models
In the short term, owners and buyers do not receive a different range. The Emira remains the combustion sports car produced in Britain, the Evija is the plant’s electric hypercar, and the Eletre and Emeya represent the electric family built in China.
The change should be visible in future projects: the same company will decide platforms, engines, software, chassis settings and distribution. Lotus calls this direction Focus 2030, but it has not published a new model timetable together with the deal.
For Romania, the takeover does not immediately change prices, warranties or the commercial network. The company has not announced local modifications. Relevance will appear when future models developed in the joint structure receive specifications and launch dates for Europe.
Frequently asked questions
Who owns Lotus UK now?
Lotus Technology Inc. owns 100% of Lotus Advance Technologies Sdn Bhd, the company called Lotus UK.
Has Geely only just bought Lotus?
No. Geely held 51% of Lotus UK from 2017. The 2026 transaction moves Lotus UK under Lotus Technology, a company in which Geely remains an important shareholder.
Is the Lotus factory at Hethel closing?
There is no such announcement. The factory and Lotus Engineering are explicitly included in the integrated company, but Lotus has not published new production or staffing targets.
Which models are produced at Hethel?
Lotus indicates the Emira and Evija as the sports cars built at the British factory.
