Latest news with #LotusElise
Scottish Sun
8 hours ago
- Automotive
- Scottish Sun
Iconic British carmaker Lotus ‘threatens to close UK factory and set up new plant in US' with 1,300 jobs at risk
Lotus may be axing production at its headquarters in Hethel, Norfolk DRIVEN AWAY Iconic British carmaker Lotus 'threatens to close UK factory and set up new plant in US' with 1,300 jobs at risk Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) ICONIC British sportscar manufacturer Lotus threatening to close a UK factory and set up in the US. The carmaker may be axing production at its headquarters in Hethel, Norfolk, and heading to the United States, as reported by the BBC. Sign up for Scottish Sun newsletter Sign up 4 1,300 jobs could be at risk if plans were to go ahead Credit: Getty 4 The brand promised it was "committed to the UK" despite recent cuts Credit: Getty 4 Lotus blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts Credit: Getty The firm has declined to make any official statement on potential plans. But, sources claimed moving production to the US was being discussed. This would put 1,300 jobs at risk if plans were to go ahead. It emerges after production in Hethel was temporarily suspended due to the tariffs on cars being imported to the US. The hikes meant business with the States was at risk, with American sellers required to pay taxes of 25% on imports of cars and car parts. In fact, exports to the US have halved since Trump's tariffs were introduced, figures revealed. This comes after the firm warned it is being forced to make more cuts, after scrapping hundreds of jobs. Lotus again blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts. The luxury sports car company announced the cuts despite the fact it has almost doubled sales over the last year. The motorcar firm recorded 12,134 sales in the 2024 financial year, a 74% increase on the 6970 sales made the previous year. The modern classic Lotus Elise However, Lotus made just £21.7m in gross profit, a significant decrease on the £76.3 million it made the previous year. Chief financial officer Daxue Wang blamed the decrease in profits on the impact of worldwide tariffs and "global trade uncertainties." He added that Lotus, which will become one company when the sports car division merges with the Chinese electric car division, will be forced to undergo "strategic cost optimisation to improve profitability." 'As we progress with the acquisition of Lotus UK, we are committed to driving cost streamlining and operational enhancements across all markets to continuously deliver long-term value,' Mr Wang said. The beginning of these cost-cutting measures was announced last month, when the manufacturer announced that it would be cutting 270 jobs. The brand promised it was "committed to the UK" despite the cuts, but this has done little to ease fears. A spokesperson said: "The proposed restructuring is vital to enhance our competitiveness in today's market. "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." Days after the job cuts were announced, Lotus' current owner Geely International, triggered a 2023 agreement to force Lotus Technology Inc to buy back 51 per cent of Lotus Advanced Technologies. Currently Geely owns 51 per cent of Lotus, with the other 49 percent owned by Malaysian group Etika Automotive. Qingfeng Feng, Senior Vice President of Geely Holding Group and CEO of Group Lotus, said: "This acquisition marks a critical milestone in our strategic journey to fully integrate all businesses under the Lotus brand. "It will strengthen brand equity and enhance our operational flexibility and internal synergies. "We are confident that the transaction will create substantial long-term value for our shareholders." Donald Trump's introduction of 25 percent tariffs on car imports to the US has heaped huge pressure on car brands. The UK sends one sixth of all of the cars it builds each year to the US. These include luxe models from car brands such as Aston Martin, Rolls Royce and Land Rover. Sales to the US amount to about 100,000 a year, with a worth of around £8 billion. Trump has claimed that the import tax for cars, which came into play on April 2, would lead to "tremendous growth" for the industry. However, experts say it will likely lead to a temporary shutdown of significant production in the US and strain relations with other countries. 4 Iconic British sportscar manufacturer Lotus is threatening to close a UK factory and set up in the US Credit: Alamy More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at and follow us from our main Twitter account at @TheSun.
The Irish Sun
8 hours ago
- Automotive
- The Irish Sun
Iconic British carmaker Lotus ‘threatens to close UK factory and set up new plant in US' with 1,300 jobs at risk
ICONIC British sportscar manufacturer Lotus threatening to close a UK factory and set up in the US. The carmaker may be axing production at its headquarters in Hethel, Norfolk, and heading to the United States, as reported by the Advertisement 4 1,300 jobs could be at risk if plans were to go ahead Credit: Getty 4 The brand promised it was "committed to the UK" despite recent cuts Credit: Getty 4 Lotus blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts Credit: Getty The firm has declined to make any official statement on potential plans. But, sources claimed moving production to the US was being discussed. This would put 1,300 jobs at risk if plans were to go ahead. It emerges after production in Hethel was temporarily suspended due to the tariffs on cars being imported to the US. Advertisement Read More The hikes meant business with the States was at risk, with American sellers required to pay taxes of 25% on imports of cars and car parts. In fact, exports to the US have halved since Trump's tariffs were introduced, figures revealed. This comes after the firm warned it is being forced to make more cuts, Lotus again blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts. Advertisement Most read in Motors The luxury The motorcar firm recorded 12,134 sales in the 2024 financial year, a 74% increase on the 6970 sales made the previous year. The modern classic Lotus Elise However, Lotus made just £21.7m in gross profit, a significant decrease on the £76.3 million it made the previous year. Chief financial officer Daxue Wang blamed the decrease in profits on the impact of worldwide tariffs and "global trade uncertainties." Advertisement He added that Lotus, which will 'As we progress with the acquisition of Lotus UK, we are committed to driving cost streamlining and operational enhancements across all markets to continuously deliver long-term value,' Mr Wang said. The beginning of these cost-cutting measures was announced last month, when the manufacturer announced that it would be cutting 270 jobs. The brand promised it was "committed to the UK" despite the cuts, but this has done little to ease fears. Advertisement A spokesperson said: "The proposed restructuring is vital to enhance our competitiveness in today's market. "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." Advertisement Days after the job cuts were announced, Lotus' current owner Geely International, triggered a 2023 agreement to force Lotus Technology Inc to buy back 51 per cent of Lotus Advanced Technologies. Currently Geely owns 51 per cent of Lotus, with the other 49 percent owned by Malaysian group Etika Automotive. Qingfeng Feng, Senior Vice President of Geely Holding Group and CEO of Group Lotus, said: "This acquisition marks a critical milestone in our strategic journey to fully integrate all businesses under the Lotus brand. "It will strengthen brand equity and enhance our operational flexibility and internal synergies. Advertisement "We are confident that the transaction will create substantial long-term value for our shareholders." Donald Trump's introduction of 25 percent tariffs on car imports to the US has heaped huge pressure on car brands. The UK sends one sixth of all of the cars it builds each year to the US. These include luxe models from car brands such as Aston Martin, Rolls Royce and Land Rover. Advertisement Sales to the US amount to about 100,000 a year, with a worth of around £8 billion. Trump has claimed that the import tax for cars, which came into play on April 2, would lead to "tremendous growth" for the industry. However, experts say it will likely lead to a temporary shutdown of significant production in the US and strain relations with other countries. 4 Iconic British sportscar manufacturer Lotus is threatening to close a UK factory and set up in the US Credit: Alamy Advertisement More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at
The Irish Sun
17-05-2025
- Automotive
- The Irish Sun
King Charles orders £160k UK-made electric car sparking speculation he'll DITCH iconic state Bentley
KING Charles has ordered a British-made £160,000 electric Lotus car. His move will spark speculation that he will ditch the 2 King Charles has ordered a British-made £160,000 electric Lotus car Credit: © David Dyson 2 Charles intends to use his Royal Claret Lotus Eletre as a personal runaround on one of his country estates Charles intends to use his top-spec It is thought that using the colour, which adorns the Royal Family's official fleet of state cars, was the idea of An insider said: 'The King has always liked eco-friendly vehicles but seems conscious that royal claret is the right look even when off-duty. 'It will look far more professional for the King's personal car to match the state vehicles. Read More on Royals 'The Palace has hinted that if Bentley can't make limousines for official use run on electric, then they would look at other manufacturers. 'The fact Lotus can produce an electric SUV in royal claret really puts them in the driving seat. 'The Royal Family had a Lotus Eletre last year on loan and it clearly ticked some boxes.' The King — increasingly spotted at his homes at Most read in Royals The modern classic Lotus Elise In last summer's annual review Sir Michael Stevens, Keeper of the Privy Purse, said: 'The two existing state Bentleys will undergo refurbishment in the coming year to enable them to run on biofuel. "This is likely to be an interim measure as we begin discussions around the next generation of state vehicles being fully electrified.'
Yahoo
07-04-2025
- Automotive
- Yahoo
General Motors's UK Designers Imagine the Future of the Corvette
General Motors has launched a new advanced design studio in the United Kingdom, which has created this streamlined concept car. The Corvette concept pairs a low-slung body with classic design cues like a split rear windshield. This concept will be one of several Corvette concepts being revealed this year, along with a GMC concept from the UK studio. Just like bald eagles, a mid-afternoon baseball game in the middle of summer, and a supersized Coca-Cola from McDonald's, the Chevrolet Corvette is an American staple. But what if the iconic sports car was designed in the United Kingdom instead? General Motors just opened a new advanced design studio outside Birmingham, England, and to christen the new space, the automaker revealed a futuristic Corvette design study from its U.K.-based team. The new facility, in Royal Leamington Spa, launches as General Motors gets ready to start selling the Corvette in the U.K. and the rest of Europe. The studio will be led by Julian Thomson, who penned the first-generation Lotus Elise, styled the Land Rover LRX concept, which previewed the Evoque, and oversaw Jaguar's advanced design department until 2021. The new 24,584-square-foot space will house over 30 designers for the advanced design team, which typically gazes five to 10 years into the future of automotive innovation. To that end, the British team cooked up a vision of a futuristic Corvette. GM says there is no production intent behind this concept, with the designers instead focusing on reimagining what the Corvette will look like in the coming decades. The concept is clearly derived from the modern era of the Corvette, with its rakish, mid-engined proportions, but makes a clear nod to the Corvette's legendary history with its split windshields at both the front and rear. The bodywork is clean, divided into a distinct, smooth white upper section and a black lower portion where cavernous intakes channel air through underbody tunnels to create downforce sans gaudy wings. GM hinted that the concept is electric, claiming that the battery is integrated into the vehicle's structure. The body is made via additive manufacturing, another way of saying 3-D printing, and there are dramatic gullwing doors. Overall, the concept stretches 183.8 inches long, about the same size as the current C8 Corvette, but measures nearly 10 inches wider and around eight inches shorter from top to bottom. The cabin is minimalist, with sleek chairs molded into the structure of the car and a rectangular, yoke-style steering wheel. The Corvette concept seen here is just the start. GM says this concept is part of a global design project that will involve studios around the world and will be joined by more Corvette concepts later in 2025. The company also teased a GMC concept that will be shown later this year; it was designed in collaboration with the GMC-specific team in Detroit. The GMC concept appears to show a boxy design, with rectilinear forms and a three-line motif in the headlights and taillights. You Might Also Like Car and Driver's 10 Best Cars through the Decades How to Buy or Lease a New Car Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang!
Forbes
31-03-2025
- Automotive
- Forbes
A British Startup Challenges Tesla's (Delayed) Roadster With Two Ultra-Light EV Sports Cars
British automakers like Lotus are known for engineering sleek sportscars with ultra-low curb weights that enable brisk acceleration from engines that would otherwise be considered tepid in larger and heavier rides. As an example, the classic Lotus Elise – upon which the original Tesla Roadster was based – packed a Toyota-derived 1.8-liter four-cylinder engine that generated what would seem to be a puny 188 horsepower and 133 pound-feet of torque, yet its super-slim mass (around one ton) enabled it to register a 0-to-60 mph time at under five seconds, which was decidedly brisk for its time. Both Elise and Tesla's initial production models are long gone, and while a new Tesla Roadster has been planned (and delayed) for several years now, a fledgling U.K. brand named Longbow Motors, hopes to beat Elon Musk to market next year with a pair of what it calls the world's first 'FEVs' (for Featherweight Electric Vehicles). Founded by veteran British engineers Daniel Davy and Mark Tapscott, both with sportscar and EV development on their resumes, the company's motto is ' Celeritas Levitas,' which is Latin for 'the speed of lightness.' The brand's premiere offerings, planned for introduction in 2026, will be a pair of low-slung two-seat rear-wheel-drive EVs, the Longbow Speedster and Roadster. Each is wrapped in graceful exterior lines and curves that sweep rearward from a massive hood that evokes a classic Jaguar XKE from the 1960's. The Speedster comes without either a windshield or a roof, however, for the ultimate vintage sportscar experience. Rather than engineer and develop each of the cars' major components in house, including the batteries, motors and brakes, they'll reportedly be sourced from established Chinese suppliers to hold down costs and speed development. Each model will come powered by a 240 kw electric motor (at an estimated 322 British horsepower) and over 2,000 nickel-cadmium battery cells. Range on a charge is anticipated at a European-rated 275 miles (443 km) for the Speedster and five additional miles on a charge for the Roadster We'd guess dual-motor all-wheel drive models could arrive at some point in the vehicles' future. While the Longbows' outputs pale compared to some of the most powerful EVs on the market, either promises a 0-62 mph time at around 3.5 seconds, which places them firmly in supercar territory, thanks to extensive use of lightweight aluminum and composite components. Their curb weights are planned to tip the scales at around a svelte 2,000 pounds, which itself is about the weight of a Ford F-150 Lightning EV's battery pack alone. Both premiere models are planned for a limited production run of 1,500 units, and the company promises to show a prototype of the Speedster by midyear, with a production model scheduled for 2026, to be followed in subsequent months by the Roadster. Best of all, while the Longbow FEVs are built to run with Ferraris and Lamborghinis, they're planned to be more affordable alternatives. The Speedster is expected to start at $109,900 (£84,995), with the Roadster commanding a less-costly $84,040 (£64,995) base price. High rollers can step up to an even more-limited Luminary 1st Edition of the Speedster with 10 units planned, or the Autograph Edition of which 25 are said to be produced. There will also be 50 Luminary 1st Edition Roadster units up for grabs as well as 100 Autograph Edition versions. No word yet how much of a premium those limited models will command. Specifics including standard and optional equipment, U.S.-certified specs and availability on this side of the Atlantic are yet to surface. Oh, in case you haven't yet caught on, the Roadster's moniker was reportedly chosen as a dig at Tesla's yet-to-surface second-generation model of the same name. 'A lot of customers have put deposits down for a Roadster that they can't get," says co-founder Daniel Davy via Top Gear. "If people want to get back their $250,000 deposit for a 2020 car and put it into a better car, they're going to get one sooner (and) they're welcome to do it.'
