News
Lotus Announces Plans To Layoff More Than 500 Workers
Lotus has announced plans to cut 550 jobs at its UK operations, including a manufacturing facility in Hethel, Norfolk, as the company, owned by China’s Geely, tries to recoup ongoing losses.
The British automaker blamed the cuts on uncertainty in the global automotive world, citing “rapid changes in global policies, including tariffs,” saying the cuts would affect all divisions. The cuts would mean around 40% of the 1,300 people currently working for Lotus in the UK would lose their jobs.
The company has been hit hard by weak demand for electric vehicles in the luxury segment of the car market after focusing its expansion on electric “lifestyle” models such as the Eletre SUV and Emeya sedan.
-
News1 week agoPhotos : First Look At Burna Boy’s Widebody Bugatti Chiron Worth ₦9 Billion
-
News10 hours agoTwo Hongqi E-HS9 Luxury SUVs Spotted On The Nigerian Road As Premium Chinese Cars Take Over
-
News1 week agoVenuum Unveils Burna Boy’s One-of-a-kind Bugatti Chiron VXX Special Edition Worth ₦9 Billion
-
Car Facts5 days agoHow Intelligence And Car Selection Are Related: Research Reveals Which Drivers Have The Highest IQs
-
News15 hours agoPagani Founder ‘Horacio’ Celebrates 70th Birthday With Limited-edition Huayra 70 Derecho
-
News13 hours agoXiaomi’s New SkyNomad N90 SUV Features Rotating Front Seats To Create an In-Car ‘Living Room’
-
News1 week agoBentley Continental GT Supersports Design Theme by Mulliner
-
News1 day ago14 EV Owners Are Told By Hyundai And Kia To Park Away From Their Homes