Filed by Lotus Technology Inc.
Pursuant to Rule 425 under the
Securities Act of 1933,
as amended, and deemed filed pursuant
to Rule 14a-12
under the Securities Exchange Act of
1934, as amended
Subject Company: L Catterton Asia Acquisition
Corp
Commission File No.: 001-40196
LOTUS
TECH
group-lotus.com
Lotus Technology Showcases
Autonomous Driving Progress at CES 2024
New
York and Singapore - January 9, 2024 – Lotus Technology Inc.
(“Lotus Tech” or the “Company”), a leading global luxury electric vehicle maker, announced today that its intelligent
driving arm, Lotus Robotics, will showcase numerous proprietary
next-generation autonomous driving software and hardware solutions at the 2024 Consumer Electronics Show (CES) in Las Vegas, USA.
The technologies on display, and Lotus Tech’s
recent receipt of approval to test conditional automated driving (“Level 3” or “L3”) functions on highways
in part of China, demonstrate Lotus Tech’s progress in executing the brand’s Vision80 business transformation strategy and
further advancing its global R&D prowess.
The ROBO Soul, ROBO Matrix, and ROBO Galaxy software being showcased
at CES provide solutions for advanced driver assistance systems, remotely assisted operation, and cloud data management respectively.
The technologies have been employed in Lotus Tech vehicles, contributing to their autonomous driving capabilities. The hyper SUV Eletre
and hyper GT Emeya, for example, both feature cutting-edge autonomous driving hardware, aviation-level security and redundancy including
dual NVIDIA DRIVE Orin chips, as well as the Company’s industry-leading cognition module, which can intelligently identify and avoid
risks on the road. Lotus Robotics is also displaying hardware it is developing as part of efforts to accelerate adoption of self-driving
technology, including its ROBOCube intelligent street cleaner.
In recognition of Lotus Tech’s leadership in intelligent driving,
the Company recently received approval to test L3 autonomous driving in Wuxi, a city near Shanghai serving as China’s pilot zone
for “internet of vehicles” connectivity. This licence allows Eletre drivers to use the vehicle’s L3 functionality on
designated highways in the city. Eletre is equipped with state-of-the-art L4-ready hardware including the world’s first deployable
LIDAR system, and leverages five different sensor types to supplement high-definition digital maps with live, 360° perception.
“Lotus Robotics’ leading technologies bear testament to
Lotus Tech’s world-class R&D innovation capabilities and signify a significant step forward in our Vision80 strategy. We look
forward to testing these innovative technologies on the roads in Wuxi as we strive to strengthen Lotus Tech’s intelligent driving
capabilities and deliver even better, safer driving experiences to our customers around the world,” said Mr. Qingfeng Feng, Chief
Executive Officer of Lotus Tech.
Visit Lotus Robotics at the Las Vegas Convention Center’s North
Hall, in the Tech East AI (Artificial Intelligence) pavilion at booth 9217 from January 9-12.
As announced in January 2023, Lotus Tech has entered into a definitive
agreement and plan of merger (the “Merger Agreement”) with 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. The transactions contemplated by the Merger Agreement are expected to be completed in the first quarter of 2024, and would result
in Lotus Tech becoming a public company. Upon completion of the business combination, the combined company is expected to retain Lotus
Tech’s name as “Lotus Technology Inc.” and its American Depositary Shares (ADS) are expected to be listed on the Nasdaq under
the ticker symbol “LOT.”
About Lotus Technology
Lotus Technology
Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle
battery electric vehicles, including SUVs and sedans, with a focus on world-class R&D in next-generation automobility technologies
such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.
About Lotus Robotics
Lotus Robotics’ mission is to accelerate the transition to self-driving
technology by creating endless opportunities for how people and goods move using intelligent vehicles and robotics. The company offers
end-to-end autonomous driving services including the software for self-driving, autonomous testing capabilities and fleet management offerings
on the cloud.
About L Catterton Asia
Acquisition Corp
L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a
blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization
or similar business combination with one or more businesses or entities. While it may pursue an initial target business in any industry
or sector, it has focused its search on high-growth, consumer technology sectors across Asia. For more information about L Catterton
Asia Acquisition Corp, please visit www.lcaac.com.
LOTUS
TECH
group-lotus.com
About L Catterton
L Catterton is a market-leading consumer-focused
investment firm, managing approximately $34 billion of equity capital and three multi-product platforms: private equity, credit and real
estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s
team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated
value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer
brands. For more information about L Catterton, please visit www.lcatterton.com.
Forward-Looking Statements
This press release (the “Press Release”) contains forward-looking
statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section
21E of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus
Tech and LCAA. All statements other than statements of historical fact contained in this Press Release are forward-looking statements.
In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”,
“intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”,
“potential”, “forecast”, “plan”, “seek”, “future”, “propose” or
“continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking
statements contain such terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could
cause actual results to differ materially from those expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and assumptions
that, while considered reasonable by LCAA and its management, and Lotus Tech and its management, as the case may be, are inherently
uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the
occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to
the proposed Business Combination between LCAA, Lotus Tech and the other parties thereto (the “Business Combination”);
(2) the outcome of any legal proceedings that may be instituted against LCAA, the Combined Company or others following the announcement
of the Business Combination and any definitive agreements with respect thereto; (3) the amount of redemption requests made by LCAA
public shareholders and the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of
LCAA, to obtain financing to complete the Business Combination or to satisfy other conditions to closing and; (4) changes
to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations
or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards
following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations
of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated
benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Combined Company to
grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs
related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and Lotus Tech’s international
operations; (10) the possibility that Lotus Tech or the Combined Company may be adversely affected by other economic, business, and/or
competitive factors; (11) Lotus Tech’s estimates of expenses and profitability; (12) Lotus Tech’s ability to maintain
agreements or partnerships with its strategic partner Geely Holding and to develop new agreements or partnerships; (13) Lotus Tech’s
ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components,
and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) Lotus Tech’s
reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners
for servicing its vehicles and their integrated software; (15) Lotus Tech’s ability to establish its brand and capture additional
market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching
fire or venting smoke; (16) delays in the design, manufacture, launch and financing of Lotus Tech’s vehicles and Lotus Tech’s
reliance on a limited number of vehicle models to generate revenues; (17) Lotus Tech’s ability to continuously and rapidly
innovate, develop and market new products; (18) risks related to future market adoption of Lotus Tech’s offerings; (19) increases
in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) Lotus
Tech’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric
vehicles, and on the allocation of sufficient production capacity to Lotus Tech by its partners in order for Lotus Tech to be able to
increase its vehicle production capacities; (21) risks related to Lotus Tech’s distribution model; (22) the effects of
competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on
Lotus Tech’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices;
(24) the impact of the global COVID-19 pandemic on LCAA, Lotus Tech, Lotus Tech’s post business combination’s
projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other
risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in LCAA’s final prospectus relating to its initial public offering (File No. 333-253334) declared
effective by the SEC on March 10, 2021, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission
(the “SEC”) by LCAA or Lotus Tech, including the Registration/Proxy Statement (as defined below). There may be additional
risks that neither LCAA nor Lotus Tech presently know or that LCAA or Lotus Tech currently believe are immaterial that could
also cause actual results to differ from those contained in the forward-looking statements.
LOTUS
TECH
group-lotus.com
Nothing in this Press Release should be regarded as a representation
by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any
of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking
statements in this Press Release represent the views of LCAA and Lotus Tech as of the date they are made. While LCAA and
Lotus Tech may update these forward-looking statements in the future, LCAA and Lotus Tech specifically disclaim any obligation
to do so, except to the extent required by applicable law. You should not place undue reliance on forward-looking statements.
Additional Information
In connection with the proposed Business Combination,
(i) Lotus Tech has filed with the SEC a registration statement on Form F-4 (File No. 333-275001) containing a preliminary
proxy statement of LCAA and a preliminary prospectus (the “Registration/Proxy Statement”), and (ii) LCAA
will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and
will mail the Definitive Proxy Statement and other relevant materials to its shareholders after the Registration/Proxy Statement is declared
effective. The Registration/Proxy Statement contains important information about the proposed Business Combination and the other matters
to be voted upon at a meeting of LCAA shareholders to be held to approve the proposed Business Combination. This Press Release
does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form
the basis of any investment decision or any other decision in respect of the Business Combination.
Before making any voting or other investment
decisions, securityholders of LCAA and other interested persons are advised to read, when available, the Registration/Proxy Statement
and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination,
as these materials will contain important information about LCAA, Lotus Tech and the Business Combination. When available,
the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of LCAA
as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies
of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available,
at the SEC’s website at www.sec.gov, or by directing a request to: LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore
018960, attention: Katie Matarazzo.
INVESTMENT IN ANY SECURITIES DESCRIBED
HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED
THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Participants in the Solicitation
LCAA and Lotus Tech, and certain of
their directors and executive officers, may be deemed participants in the solicitation of proxies from LCAA’s shareholders
with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of
their interests in LCAA is set forth in LCAA’s filings with the SEC (including LCAA’s final prospectus
related to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021), and are
available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to LCAA, 8 Marina View, Asia Square
Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo. Additional information regarding the interests of such participants and
other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the
proposed Business Combination will be contained in the Registration/Proxy Statement for the proposed Business Combination when available.
LOTUS
TECH
group-lotus.com
No Offer and Non-Solicitation
This Press Release is not a proxy statement
or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall
not constitute an offer to sell or a solicitation of an offer to buy the securities of LCAA or Lotus Tech, nor shall there be any
sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration
or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus
meeting the requirements of the Securities Act.
Contact Information
For inquiries regarding Lotus Tech
Demi Zhang
ir@group-lotus.com
Brunswick Group
Lotustechmedia@brunswickgroup.com
For inquiries regarding LCAA and/or
L Catterton
Julie Hamilton (U.S.)
media@lcatterton.com
+1 203 742 5185
Bob Ong / Bonnie Gan (Asia)
bob.ong@lcatterton.com / bonnie.gan@lcatterton.com
+65 6672 7619 / +86 10 8555 1807
Forward-Looking Statements
This document contains forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E
of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus
Technology Inc. (“Lotus Tech”) and L Catterton Asia Acquisition Corp (“LCAA”). All statements
other than statements of historical fact contained in this document are forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as “may”, “should”, “expect”, “intend”, “will”,
“estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”,
“plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these
terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Such forward-looking
statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed
or implied by such forward looking statements.
These forward-looking statements are based upon estimates
and assumptions that, while considered reasonable by LCAA and its management, and Lotus Tech and its management, as the case may
be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not
limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive
agreements with respect to the proposed business combination between LCAA, Lotus Tech and the other parties thereto (the “Business
Combination”); (2) the outcome of any legal proceedings that may be instituted against LCAA, the combined company or
others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the amount
of redemption requests made by LCAA public shareholders and the inability to complete the Business Combination due to the failure
to obtain approval of the shareholders of LCAA, to obtain financing to complete the Business Combination or to satisfy other conditions
to closing and; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result
of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability
to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination
disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the
ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition,
the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain
its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable
laws or regulations and Lotus Tech’s international operations; (10) the possibility that Lotus Tech or the combined company
may be adversely affected by other economic, business, and/or competitive factors; (11) Lotus Tech’s estimates of expenses
and profitability; (12) Lotus Tech’s ability to maintain agreements or partnerships with its strategic partner Geely Holding
and to develop new agreements or partnerships; (13) Lotus Tech’s ability to maintain relationships with its existing suppliers
and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively
managing the risks due to such relationships; (14) Lotus Tech’s reliance on its partnerships with vehicle charging networks
to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) Lotus
Tech’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational
harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture,
launch and financing of Lotus Tech’s vehicles and Lotus Tech’s reliance on a limited number of vehicle models to generate
revenues; (17) Lotus Tech’s ability to continuously and rapidly innovate, develop and market new products; (18) risks
related to future market adoption of Lotus Tech’s offerings; (19) increases in costs, disruption of supply or shortage of materials,
in particular for lithium-ion cells or semiconductors; (20) Lotus Tech’s reliance on its partners to manufacture
vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production
capacity to Lotus Tech by its partners in order for Lotus Tech to be able to increase its vehicle production capacities; (21) risks
related to Lotus Tech’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive
industry, and the pace and depth of electric vehicle adoption generally on Lotus Tech’s future business; (23) changes in regulatory
requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on LCAA,
Lotus Tech, Lotus Tech’s post business combination’s projected results of operations, financial performance or other financial
metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors”
and “Cautionary Note Regarding Forward-Looking Statements” in LCAA’s final prospectus relating to its initial
public offering (File No. 333-253334) declared effective by the U.S. Securities and Exchange Commission (the “SEC”)
on March 10, 2021, and other documents filed, or to be filed, with the SEC by LCAA or Lotus Tech, including a registration
statement on Form F-4 containing a preliminary proxy statement of LCAA and a preliminary prospectus (the “Registration/Proxy
Statement”) that has been filed. There may be additional risks that neither LCAA nor Lotus Tech presently know or that LCAA
or Lotus Tech currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking
statements.
Nothing in this document should be regarded as a representation
by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any
of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking
statements in this document represent the views of LCAA and Lotus Tech as of the date they are made. While LCAA and Lotus
Tech may update these forward-looking statements in the future, LCAA and Lotus Tech specifically disclaim any obligation to do
so, except to the extent required by applicable law. You should not place undue reliance on forward-looking statements.
Additional Information
In connection with the proposed
Business Combination, (i) Lotus Tech has filed the Registration/Proxy Statement with the SEC, and (ii) LCAA will file
a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail
the Definitive Proxy Statement and other relevant materials to its shareholders after the Registration/Proxy Statement is declared effective.
The Registration/Proxy Statement contains important information about the proposed Business Combination and the other matters to be voted
upon at a meeting of LCAA shareholders to be held to approve the proposed Business Combination. This document does not contain
all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any
investment decision or any other decision in respect of the Business Combination.
Before making any voting or other investment
decisions, securityholders of LCAA and other interested persons are advised to read, when available, the Registration/Proxy Statement
and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination,
as these materials will contain important information about LCAA, Lotus Tech and the Business Combination. When available,
the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of LCAA
as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies
of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available,
at the SEC’s website at www.sec.gov, or by directing a request to: LCAA, 8 Marina View, Asia Square Tower 1, #41-03,
Singapore 018960, attention: Katie Matarazzo.
INVESTMENT IN ANY SECURITIES
DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR
ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY
IS A CRIMINAL OFFENSE.
Participants in the Solicitation
LCAA and Lotus Tech, and certain of their directors and executive
officers, may be deemed participants in the solicitation of proxies from LCAA’s shareholders with respect to the proposed
Business Combination. A list of the names of those directors and executive officers and a description of their interests in LCAA
is set forth in LCAA’s filings with the SEC (including LCAA’s final prospectus related to its initial public
offering (File No. 333-253334) declared effective by the SEC on March 10, 2021), and are available free of charge
at the SEC’s web site at www.sec.gov, or by directing a request to LCAA, 8 Marina View, Asia Square Tower 1, #41-03,
Singapore 018960, attention: Katie Matarazzo. Additional information regarding the interests of such participants and other persons who
may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the proposed
Business Combination is contained in the Registration/Proxy Statement for the proposed Business Combination when available.
No Offer or Solicitation
This document is not a proxy statement or solicitation
of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute
an offer to sell or a solicitation of an offer to buy the securities of LCAA or Lotus Tech, nor shall there be any sale of any
such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act.
Grafico Azioni L Catterton Asia Acquisi... (NASDAQ:LCAAU)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni L Catterton Asia Acquisi... (NASDAQ:LCAAU)
Storico
Da Dic 2023 a Dic 2024
