'Volatile market' blamed for Lotus Cars job losses

Sports car manufacturer Lotus has announced job losses "amid volatile and evolving market conditions including the US tariffs".

The business, which has its headquarters and manufacturing facility at Hethel, near Wymondham, Norfolk, said up to 270 jobs were to go across Lotus Cars in the UK.

A spokesperson said it would look to share resources and collaborate with its largest shareholder and technology partner, Geely Holding Group.

It remained "committed to the UK" but "the proposed restructuring is vital to enhance our competitiveness in today's market", a spokesperson said.

The latest reorganisation follows the loss of 94 jobs in November and job cuts to its two Norfolk factories the previous January.

The spokesperson said: "Lotus Cars has announced a proposed business restructure to ensure sustainable operations, amid volatile and evolving market conditions including the US tariffs and shifting consumer demand for sports cars.

"The company plans to increase synergies across the wider Lotus brand and with its largest shareholder and technology partner, Geely Holding Group.

"It will look at greater resource sharing and collaboration in technology, engineering, and operations."

Last month, US President Donald Trump announced new import taxes of 25% on cars and car parts coming into the country.

When asked if the UK government's exemption on the zero emission vehicle mandate, announced on Sunday partly in response to the tariffs, had come too late, a Lotus spokesperson would not comment.

The company said it had prepared for an electric future by investing £500m in its factories and it was producing electric SUV and sports cars.

Lotus was founded in the early 1950s by engineer Colin Chapman and it moved to Norfolk in the 1960s.

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