Lotus has announced it plans to cut 550 jobs across its UK operations, including its manufacturing plant in Hethel, Norfolk, as the Geely-owned company tries to offset persistent losses.
Lotus blamed uncertainty in the global automotive landscape, citing “rapid changes in global policies including tariffs” for the cuts, which it said would affect all departments.
The cuts would mean around 40% of the 1300 people currently working for Lotus in the UK would lose their jobs.
The company has been hit hard by muted demand for electric vehicles at the luxury end of the automotive market, after betting its expansion on electric ‘lifestyle’ models such as the Eletre SUV and Emeya saloon.
