Lotus will make up to 200 more of its staff in the UK redundant, having already downsized its workforce in 2023 and earlier this year.
The “organisational changes” affect Lotus Cars, the Hethel-based arm of the brand that is responsible for the Emira sports car, Evija electric hypercar and Type 135 project – developing an electric replacement for the Emira and Elise.
The company said in a statement sent to Autocar that it would aim to retrain staff where possible “to retain specific skills and knowledge within the business”.
It implied that the redundancies are being made to cut costs, saying: “The latest proposed organisational changes at Lotus Cars are to ensure that the company has the right organisation structure in place to ensure sustainable operations."
But it also alluded to the operational impact of the global weaking in demand for pure EVs as a factor, saying: “Following a review of resources in line with market demand and evolving market conditions, the company is optimising its internal processes and structures to achieve its long-term business objectives.”
It added that the cuts were “vital to ensuring the organisation is leaner and more competitive in today’s market”.
Lotus Cars’ Chinese sister company, Lotus Technology, responsible for the Eletre electric SUV and Emeya electric saloon, will reveal its third-quarter financial results on 21 November.
It previously reported a net loss of $202 million (£156m) for the second quarter of the year and of $460 million (£355m) for the full first half.
In August, it drastically lowered its sales targets after being hit by tariffs in key markets for the two China-built EVs. It now expects to sell 12,000 cars globally this year, down from its previous forecast of 55,500.
Lotus Cars said it remains “firmly committed to the UK as the heart of [its] sports car operations”.
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