Lotus is set to make up to 200 redundancies, cutting jobs for the third time in 18 months. 

The Hethel-based sportscar manufacturer told its staff on Thursday (November 7) that up to 200 UK-based roles are at risk.

Lotus Cars, which is owned by Chinese firm Geely, posted significant losses in its most recent accounts.

The company made around 100 cuts to jobs in July 2023, followed by another round of redundancies in January. 

Lotus spent £100m on its Hethel base in 2021 and has invested more than £500m into technology and infrastructure at its Norfolk factory over the past six years to go 'all electric' by 2028. 

It is understood that the majority of the latest wave of redundancies will be made at the Norfolk site. 

Lotus staff told this newspaper that news of the job losses was "dropped on them like a bomb" with just over a month until Christmas. 

Lotus said the planned redundancies are due to "operational changes" to "ensure the company has the right organisation structure in place to ensure sustainable operations". 

A Lotus spokesman said: "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.

"We anticipate up to 200 UK-based roles to be impacted. Wherever possible, we will look to support the redeployment of staff and plan to look for ways to retain specific skills and knowledge within the business.

"We believe this is vital to ensure the organisation is leaner and more competitive in today’s market."

Lotus has promised it remains committed to keeping the UK as the heart of its sportscar operations, and will continue to design and manufacture vehicles there including its Emira sportscar and Evija hypercar.