Lotus, the iconic British sports car maker, announced on Thursday that it will cut up to 550 jobs across its operations in the UK. The move comes just months after the company dismissed
rumors about shutting down its factory in eastern England.
The restructuring is part of a broader review by the company, which is majority-owned by China’s Geely. Lotus said the decision reflects the need to adapt to current market pressures and shifting global automotive policies that have left many carmakers grappling with soaring costs and uncertainty.
“This proposal is about ensuring Lotus has a sustainable future in a fast-changing industry,” the company said in a statement.
As part of its plan, Lotus will increase collaboration across its global operations and look for new ways to diversify its business model—including potential partnerships in third-party manufacturing.
The announcement underscores the challenges facing automakers worldwide, as stricter regulations, electrification, and economic headwinds reshape the industry. Photo by Alexander Migl, Wikimedia commons.