Asian Tech Press (Aug 31) -- British sports car maker Lotus Cars has closed a Pre-A round of financing at a valuation of 15 billion yuan ($2.3 billion), said Bloomberg on Tuesday, citing people familiar with the matter.

Nio Capital, the investment arm of Chinese EV manufacturer Nio Inc. (NYSE: NIO), participated in the round, the sources said.

Lotus Cars plans to announce the new investor as early as Tuesday at a groundbreaking ceremony for its global headquarters of Wuhan Lotuxs Technology Co.,Ltd.

Zhejiang Geely Holding Group. acquired a portion of Lotus Cars in 2017 and now owns 51% of the sports car maker.

(US$1 = 6.4685 yuan)