Lutes Technology: The latest round of financing has been completed

A few days ago, we learned that the latest round of financing has been completed by the technology company of Lutes Group, with a business valuation of US $4.5 billion. As early as 2021, we learned that Lutes hopes to raise US $4-5 billion by the end of 2021, with a valuation of US $5-6 billion after financing. It is understood that the latest round of financing this time is the same as that reported last year.

At present, Lutes Group is jointly owned by Zhejiang Geely Holding Group and Malaysia Etika Automotive, holding 51% and 49% shares respectively. We understand that Lutes Technology will use this financing for product innovation and development of global distribution network. However, at present, we do not know the amount and investors of this round of financing. It has also been reported that Lutes is currently considering listing in the UK, the United States or China, but the size and valuation of the company's initial public offering (IPO) are still to be determined, and whether to conduct an IPO has not yet been decided.

According to the previous news, the official price of the first SUV, ELETRE, will be announced in October. The new car will have two power versions, the maximum power is 612 hp and 918 hp, the maximum torque is 710 Nm and 985 Nm, and the acceleration time from 0-100 km/h is 4.5 seconds and 2.95 seconds respectively. For the endurance part, the battery pack capacity of the vehicle will exceed 100kWh, and the WLTP endurance mileage corresponding to the above power version is 600km and 517km respectively; The new car uses 800V architecture, which can be charged from 10% to 80% in 20 minutes, and can drive 120km in 5 minutes. (Wen/Andy Du, Home of Automobile)