Through a series of contemplated reorganization steps, or the Reorganization, including transferring the assets and employees in the Lotus BEV business unit of Ningbo Geely R&D into Wuhan Lotus Cars and transferring the equity of Wuhan Lotus Cars to the WFOE, the Company gained control over WFOE through Lotus HK on December 15, 2021.Lotus Technology Inc. is a holding company with no operations of its own. Lotus Technology Inc. currently conducts its operations through its subsidiaries in China and Europe. Mr. Shufu Li owns more than 50% of our total voting power.
Through a series of contemplated reorganization steps, or the Reorganization, including transferring the assets and employees in the Lotus BEV business unit of Ningbo Geely R&D into Wuhan Lotus Cars and transferring the equity of Wuhan Lotus Cars to the WFOE, the Company gained control over WFOE through Lotus HK on December 15, 2021.Lotus Technology Inc. is a holding company with no operations of its own. Lotus Technology Inc. currently conducts its operations through its subsidiaries in China and Europe. Mr. Shufu Li owns more than 50% of our total voting power.