Summary
Lotus might move its car production from the UK to the US, putting 1,300 jobs in Norfolk at risk. This change is being considered because recent US tariffs have made importing cars more expensive. A new deal will soon lower these tariffs, but it is not currently active.
Key Facts
- Lotus is thinking about moving production from Norfolk, UK, to a new plant in the US.
- This move may affect 1,300 jobs at the company's UK headquarters.
- US tariffs have increased the cost of importing cars, affecting Lotus's business.
- The UK and US have agreed to lower tariffs on UK-made cars from 25% to 10%.
- This tariff change will start at the end of June.
- Lotus is majorly owned by the Chinese company Geely, which owns several other car brands.
- Lotus stopped some production in Norfolk because of the tariffs and announced 270 job cuts in April.
- The US is a significant market for Lotus, but current tariffs present a challenge.
