Lotus Technology announces U.S. IPO deal with SPAC L Catterton (LCAA)

Chinese domestic EV makers report January sales decline following Tesla (TSLA) price cuts

February 1, 2023 8:08 AM EST

Chinas top domestic high-end EV manufacturers: Nio (NYSE: NIO), XPeng (NYSE: XPEV), and Li Auto (NASDAQ: LI), all recorded monthly and year-on-year sales declines in January, with some of the drops exceeding 50%. The weakness follows disrupted production and sales slowed by the weeklong Lunar New Year holiday, as-well-as recent Tesla (NASDAQ: TSLA) price... More

Warren Buffet backed EV maker BYD in talks to acquire insurer Yi'an

January 31, 2023 11:59 AM EST

BYD, the Chinese electric vehicle company in China, announced on Tuesday that the Warren Buffet backed automaker is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial... More

Lotus Technology to Go Public through Business Combination with L Catterton Asia Acquisition Corp (LCAA)

January 31, 2023 7:31 AM EST

Lotus Technology Inc. ("Lotus Tech" or the "Company"), a leading global luxury electric vehicle ("EV") maker, and L Catterton Asia Acquisition Corp ("LCAA") (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm, announced today that they have entered into a definitive agreement and plan of merger (the "Merger Agreement").

Upon completion of the transactions contemplated by the Merger Agreement (the "Business Combination"), the combined company following the Business Combination (the "Combined Company") is expected to retain its... More

EV maker Lotus Tech to go public in the U.S. via deal with L Catterton SPAC

January 31, 2023 7:30 AM EST

By Brenda Goh

SHANGHAI (Reuters) - Lotus Technology said on Tuesday that it will go public in the United States via a merger with special purpose acquisition company L Catterton Asia Acquisition Corp in a deal that will value the combined group at $5.4 billion.

The valuation takes into account $288 million of cash in LCAA's trust account, it said. LCAA raised $250 million when it went public in 2021.

Lotus Tech is the luxury electric vehicle... More

L Catterton Asia Acquisition (LCAA) Halted, News Pending

January 31, 2023 7:25 AM EST

L Catterton Asia Acquisition (NASDAQ: LCAA) Halted, News Pending

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XPeng Inc. (XPEV) ) X2 'flying car' becomes first crewed eVTOL to receive flight permit in China - electrek

January 30, 2023 1:23 PM EST

XPeng Inc. (NYSE: XPEV) X2 flying car becomes first crewed eVTOL to receive flight permit in China - electrek

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XPeng Inc. (XPEV) Appoints Fengying Wang as President

January 30, 2023 5:50 AM EST

XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle (Smart EV) company, today announced that Ms. Fengying Wang (Ms. Wang) has been appointed as the President of the Company with effect from January 30, 2023.

Ms. Wang will be responsible for the Company's product planning, product portfolio management and sales operations, reporting to Mr. He Xiaopeng, Chairman and CEO of the Company.

Ms. Wang brings to us over 30 years of experience in the automotive industry, spanning roles in sales, strategy and senior management. Her leadership and expertise have been instrumental in driving the... More

NIO Inc. (NIO) call put ratio 5.2 calls to 1 put

January 30, 2023 4:13 AM EST

NIO Inc. (NYSE: NIO) 30-day option implied volatility is at 74; compared to its 52-week range of 63 to 132. Call put ratio 5.2 calls to 1 put.

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XPeng Inc. (XPEV) call put ratio 6.2 calls to 1 put

January 30, 2023 4:12 AM EST

XPeng Inc. (NYSE: XPEV) 30-day option implied volatility is at 88; compared to its 52-week range of 70 to 129. Call put ratio 6.2 calls to 1 put.

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Smaller EV names are in play on Lucid rumors

January 27, 2023 1:36 PM EST

Smaller EV names are in play with the Lucid Group (NASDAQ: LCID) rumors, and subsequent 69% surge:

Fisker (NYSE: FSR) +23%
Li Auto Inc. (NASDAQ: LI) +3%
NIO Inc. (NYSE: NIO) +7.8%
Nikola (NASDAQ: NKLA) +8.9%
Rivian Automotive (NASDAQ: RIVN) +14.3%
XPeng Inc. (NYSE: XPEV) +9%

... More