LOTUS VENTURES INC.

The British sports-car brand Lotus, born from motorsport, has gone through several ownership changes and a failed IPO despite iconic models. Previous owners failed to transform it into a luxury marque and left behind financial and operational problems. Now hopes rest with the Chinese owner, who is trying to stabilize the brand and save the icon. » More on welt.de

Lotus will cut up to 550 roles in the UK, around 42% of its local workforce, as part of a restructuring to address falling sales, cash shortages and uncertainty from US tariffs. The Geely-owned firm says it remains committed to manufacturing at its Hethel, Norfolk plant and aims to restart production in early September while exploring diversification and third-party manufacturing. » More on theguardian.com

Lotus is under pressure from local MP Ben Goldsborough to clarify the future of its Hethel factory and the security of 1,300 jobs, following reports that owner Geely may consider closing the site. While Lotus has stated it has no plans to close any factory, it is exploring strategic options to enhance efficiency amid industry uncertainty. The company recently announced job cuts in the UK, raising concerns about long-term sustainability and capacity at the Hethel plant. » More on bbc.com