"The factory has not built any cars since mid-May, having paused production to manage inventories and supply chain issues caused by the US tariffs on car imports from countries including the UK. Trump initially slapped British-made cars with a 27.5% tariff, with the UK government later striking a deal that will see the levy cut to 10% for a maximum of 100,000 cars a year, close to total UK vehicle exports last year."
"Following a review of Lotus Cars business objectives in line with the current market conditions, the company has announced a restructuring proposal, which anticipates a reduction of up to 550 roles across the business in the UK, Lotus said in a statement. We believe this is necessary in order to secure a sustainable future for the company in today's rapidly evolving automotive environment, which is seeing uncertainty with rapid changes in global policies including tariffs."
Lotus will reduce its UK workforce by up to 550 roles, around 42% of 1,300 employees, citing falling sales and cash shortages. The company is owned by Geely and affirmed continued manufacturing at its Hethel, Norfolk plant, which paused production in mid-May to manage inventories and supply-chain issues tied to US tariffs. The US initially imposed a 27.5% tariff on British-made cars, later reduced to 10% for up to 100,000 vehicles under a government deal. Lotus said it plans to resume production in early September while restructuring to boost competitiveness and explore diversification and resource-sharing across the wider group.
Read at www.theguardian.com
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