Geely’s Lotus Seeks to Raise $1 Billion for Push into China’s Electric Vehicle Market

(Source: Lotus)

Zhejiang Geely Holding Group is planning to raise $1 billion to help its luxury British sports car brand Lotus Cars enter China’s vast and growing electric vehicle (EV) market, according to people familiar with the matter, Bloomberg reported.

The funding round could value total Lotus’ EV operations at $5 billion, the sources said. Apart fr…