Astro Aerospace to acquire 51% of Lotus Mobility's subsidiary LTT

Astro Aerospace signed a letter of intent to acquire 51% of Lotus Mobility's subsidiary Liaoning Tongda Transport Technologies (LTT) and exclusive global distribution rights to its electric aircraft, in exchange for 3 million Astro shares. The companies will also invest $3 million in joint R&D and establish a Singapore-based joint venture.

“This is an amazing opportunity for Astro Aerospace to further expand our vertical product offering while joining forces with Lotus to further develop our global reach.”globenewswire.com

• 1 source
• globenewswire.comAstro Aerospace Signs Letter of Intent with Lotus MobilityAstro Aerospace Ltd.Jul 28, 2021

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