# 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.

- Type: Acquisition
- Announced: 2021-07-28
- Where: China
- Value: $3.00M
- Status: announced
- Products: electric aircraft, eVTOL aerial vehicles, drones
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Astro Aerospace](https://endata.com/companies/53323.md) (acquirer)
- [Lotus Mobility](https://endata.com/companies/56734.md) (target)
- [Liaoning Tongda Transport Technologies](https://endata.com/companies/56735.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2021/07/28/2270297/0/en/astro-aerospace-signs-letter-of-intent-with-lotus-mobility-ltd-for-exclusive-distribution-of-its-electric-aircraft.html), 2021-07-28: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.