November 12, 2024 – British luxury sports car manufacturer, Lotus, has announced plans to lay off 200 employees in the UK, citing evolving market demands and changing market conditions as the reason behind the decision.
The company confirmed the news to its staff last week, stating that it would attempt to relocate some of the affected employees and is exploring ways to retain specific skills and knowledge within the organization.
This round of layoffs marks the third such instance for Lotus in recent times, following similar measures taken in July of last year and again in January.
In a statement, Lotus said, “The recent organizational changes at Lotus Cars are aimed at ensuring we have the right structural setup for sustainable operations. After evaluating our resources in light of market demands and fluctuating conditions, we are optimizing our internal processes and structures to align with our long-term business objectives.”
Meanwhile, Lotus recently unveiled its Theory 1 concept car, a three-seater equipped with two electric motors delivering a combined 986 horsepower. The high-performance vehicle can accelerate to 100 kilometers per hour in less than 2 seconds and reach a top speed of 320 kilometers per hour. Although Lotus has not confirmed whether the Theory 1 will enter production, it is expected to heavily influence the design and technology of the brand’s upcoming Type 135 electric sports car, slated for production in 2027. Originally planned as a joint venture with Alpine, the project has since been taken over entirely by Lotus.
