Lotus fires another 200 workers

Following a layoff of 200 employees this summer, the British automaker has now deemed it necessary to double that number.

After losing the equivalent of U.S. $202,000,000 in Q2 this year, Lotus had counted on a new product strategy to boost sales. It did help – but not quite as much as the company hoped. This means that further cuts are necessary.

When looking at the big picture, the near future actually looks rather bleak for Lotus, which continues to produce all its electric cars in China. With both the United States and Europe enacting prohibitive import fees on China-made EVs, these could skyrocket in price with no ready alternatives. Foreseeing this, Lotus has already dropped the vehicle production target for this year from 26 to just 12 thousand units. One has to wonder whether it manages even that, though.