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.

• Read More: Geely-owned Lotus To Keep Making Sports Cars In The UK, Debunks Reports Of Plant Closure