Evija's extremely powerful limited-edition supercars were originally unveiled in 2019, with production to begin a year later. of staff after a difficult year of disruptions in the supply chain and delays in the first electric «hypercar».
A spokesman for the Norfolk-headquartered automaker owned by China's Geely said the job cuts were necessary to create a «more compact and competitive» company.
The restructuring «will ensure that the right organizational structure is in place to achieve our business goals and build a strong and sustainable future,» the spokesperson said. Lotus employs 2,100 people, meaning just under 10% of the workforce is at risk.
The cuts come as the company tries to recover from a sales slump and delays the release of its all-electric Evija hypercar.
The extremely powerful limited-edition supercars were originally unveiled in 2019, with production to begin a year later.
But deliveries of the £2m car, which will be made in just 130 units, have been put on hold. Postponed several times and scheduled for this summer.
Lotus blamed Evija for disruptions due to the Covid-19 pandemic, supply chain chaos and China lockdown.
0605 Electric vehicle sales up
Sales of other models have stopped. Lotus sold just 576 vehicles in 2022, compared to 1,566 a year earlier. The company lost £145m last year, compared to £86m the year before.
Last year, Lotus launched its first new car in 10 years: the petrol-powered Emira sports car, starting at £60,000. Both Emira and Evija are manufactured at the company's headquarters near Norwich.
Lotus, founded by engineer Colin Chapman in 1948, has a long history of building iconic British sports cars. His brand has also been used by several successful Formula One teams, including cars driven by British racing legends Stirling Moss and Graham Hill in the 1960s.
The company was sold to the Chinese company Geely, which owns Volvo, in 2017. Geely is currently planning a $5.4bn (£4.2bn) investment in a new all-electric Lotus Tech division that will build the new mass-produced Eletre car at its Wuhan plant.
While Lotus Cars will continue to focus on hand-built supercars, Lotus Tech expects to produce up to 150,000 models each year, expanding internationally.
The spokesperson said the UK will continue to is the «heart» of its sports car operations, adding that 2023 is expected to be «a record-breaking year for car production.»
The company's owners have invested £500 million in Lotus research and, according to a company spokesman, creating jobs in London and Norfolk.
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