Lotus Says 200 of Its Employees’ Jobs Are ‘at Risk’

Points weren’t looking great for Lotus previously this year when it revealed a bottom line of $202 million in the 2nd quarter of 2024. The business’s sales are up this year, yet that’s not translating into concrete revenues at home. Currently, the business is preparing to lay off up to 200 employees in the United Kingdom.

Through the very first 9 months of the year, Lotus saw sales leap 134 percent. Sales for its two electric automobiles, the Eletre SUV and Emeya car, were up together with the gas-powered Emira, which ultimately on sale in the USA after years of delays. The company will reveal its third-quarter results later on this month.

The Type 135, an electrical cars that’ll take cues from the Theory 1, is still on course to launching in 2026 in the past hitting the trail in 2027. While Lotus’s sales are up, they are still much listed below what it expected to achieve, and now it has to straighten to a new, harsher market.

The decrease in head count will make certain the automaker “has the best organization framework in place to ensure lasting operations,” Lotus claimed in a statement to Car Express. The firm is functioning to far better straighten its result with market need after reducing its distributions forecast by over half a couple of months ago, reducing it from 26,000 to 12,000 systems.