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On June 5, Geely Auto officially announced the completion of approval with Chongqing Industry's Parent Fund, marking the effective date of the joint venture framework agreement as April 9, 2025. Concurrently, Zhejiang Jirun, Chongqing Maichi, Lotus Robotics, and the Employee Incentive Platform executed a shareholder agreement governing the management of the joint venture. The equity distribution of the joint venture is structured as follows: Geely Auto, Chongqing Maichi, and Qianli Partnership each hold a 30% stake, while Lotus Robotics and the Employee Incentive Platform each hold 5%. The initial operational term of the joint venture spans 20 years, subject to potential early termination. Three months prior to the expiration of this term, the founding shareholders will deliberate on whether to extend their collaboration.
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