Lotus, a British sports car manufacturer, has announced plans to cut 270 jobs as a response to the volatile market conditions influenced by US tariffs. The restructuring aims to align the company’s operations with shifting consumer demand, particularly in the sports car segment. Discussions will take place with Geely Holding Group, its largest shareholder, to explore synergies and enhance collaboration in technology and engineering. This move reflects the challenges faced by the automotive industry in adjusting to dynamic market forces.
"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."
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