Lotus Technology (LOT) shares soared 11.87% in pre-market trading on Monday, following two significant announcements that have bolstered investor confidence in the British sports car manufacturer.

The company revealed a key change to its board of directors, appointing Jim Rowan as a new director, effective June 30, 2025. Rowan, who succeeds Alexious Kuen Long Lee, brings extensive experience from his previous roles as CEO and President of Volvo Cars and CEO of Dyson. This high-profile appointment is likely seen as a strategic move to strengthen Lotus's leadership and drive future growth.

Additionally, Lotus Technology announced that it is actively exploring strategic options for its Hethel plant in England, while firmly ruling out closure. This news comes amid the company's efforts to address global trade uncertainties, including the impact of a 25% import tariff on foreign-made cars in the U.S. The company emphasized its commitment to the UK, its customers, employees, dealers, suppliers, and its proud British heritage, reassuring stakeholders about the future of its operations. These developments appear to have sparked optimism among investors, contributing to the significant pre-market rally.