Lotus Technology Welcomes New Leadership for Growth and Innovation

Lotus Technology's Leadership Changes Signal New Directions

Lotus Technology Inc. (“Lotus” or the “Company”) (Nasdaq: LOT), a prominent global player in intelligent and luxury mobility solutions, is making significant strides in its leadership approach. The company recently announced important changes in its management team and board of directors, marking an exciting new chapter for Lotus.

Appointment of New Chief Financial Officer

The Board of Directors has officially appointed Mr. Daxue Wang as the new Chief Financial Officer (CFO) of Lotus Technology. Mr. Wang's appointment is effective immediately. He arrives with a wealth of experience in finance, having previously served as CFO at Radar Auto. His rich background spans various prestigious financial institutions, including roles at Morgan Stanley Securities, Citi Group, and others. Lotus Technology's board believes that Mr. Wang's qualifications and extensive track record in the financial sector make him an excellent fit for the company.

Board Composition Enhancements

Alongside the announcement of Mr. Wang’s appointment, the company has also welcomed Ms. Catherine Cai as an independent director. Ms. Cai joined the board on March 31, further enhancing the board's capabilities. With over thirty years of experience in the investment banking sector, her previous roles at major institutions like UBS and Citigroup provide Lotus with invaluable insights into navigating complex financial landscapes. Her presence on the audit, compensation, and governance committees will prove beneficial as the company continues its trajectory of growth.

Leadership Insights on Recent Changes

The Chief Executive Officer of Lotus, Mr. Qingfeng Feng, expressed his enthusiasm regarding Mr. Wang’s onboarding, highlighting his substantial background in finance and operational expertise. Mr. Feng stated, “We are thrilled to welcome Mr. Wang to our team. His proven capabilities will be crucial as we strive for financial excellence.” He also acknowledged the contributions of Mr. Alexious Lee, the former CFO, who, despite resigning from his financial role for personal reasons, will remain actively involved as a board member.

Chairman of the Board, Mr. Donghui Li, shared his excitement about bringing Ms. Cai on board, emphasizing her significant investment banking experience. “Her expertise will be an asset to our shareholders as we pursue our long-term vision and adapt to the ever-changing market,” Mr. Li remarked. This commitment to enhancing board strengths underlines Lotus Technology's strategic foresight.

Lotus Technology's Commitment to Innovation

Lotus Technology remains focused on delivering cutting-edge luxury battery electric vehicles while investing in the research and development of next-generation automotive technologies such as electrification and digitalization. The company is strategically positioning itself in the global market, engaging with clients across the UK, the EU, and China.

About Lotus Technology Inc.

Lotus Technology is dedicated to redefining mobility through innovation and excellence. Their commitment to sustainability and advanced technology is at the forefront of their mission, ensuring that they remain leaders in the luxury automotive sector. For those interested in luxury electric vehicles that blend performance with a sustainable ethos, Lotus Technology stands as a prime choice.

Frequently Asked Questions

What recent leadership changes have occurred at Lotus Technology?

Lotus Technology announced the arrival of Daxue Wang as CFO and Catherine Cai as an independent director.

What experience does Daxue Wang bring to Lotus Technology?

Mr. Wang has extensive expertise in finance, having held senior roles at various prominent financial institutions prior to joining Lotus.

How will Catherine Cai contribute to the board?

Ms. Cai will enhance the board's expertise in investment banking and is a member of critical committees including audit and governance.

What is Lotus Technology's focus moving forward?

Lotus Technology is dedicated to delivering luxury electric vehicles and investing in advanced technological developments in the automotive space.

How can I get in touch with Lotus Technology for inquiries?

For investor inquiries, you can reach Lotus Technology at ir@group-lotus.com.

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