Lotus Technology (LOT) saw its stock soar 11.87% in pre-market trading on Monday, following two significant announcements that have boosted investor confidence. The electric vehicle maker has appointed industry veteran Jim Rowan to its board of directors and reaffirmed its commitment to its U.K. operations.

In a statement released early Monday, Lotus Technology announced that Jim Rowan would be joining its board, replacing Alexious Kuen Long Lee. Rowan brings a wealth of experience to the role, having previously served as CEO and President of Volvo Cars and CEO of Dyson. This strategic appointment is likely seen as a move to strengthen Lotus's position in the competitive EV market, leveraging Rowan's expertise in both automotive and technology sectors.

Additionally, Lotus addressed recent speculation about its U.K. operations, particularly its Hethel plant in England. The company confirmed it is exploring strategic options for the facility but categorically ruled out closure. "Lotus remains committed to the U.K., and its customers, employees, dealers, suppliers, as well as its proud British heritage," the company stated. This commitment comes despite recent warnings about cost-saving measures due to global trade uncertainties, including the impact of U.S. import tariffs on foreign-made cars. The reassurance about its U.K. presence appears to have further buoyed investor sentiment, contributing to the stock's significant pre-market rally.