The British sportscar brand has been majority-owned by Chinese multinational Geely since 2017.
The Business Secretary is set to engage in discussions with Lotus following the car manufacturer’s indication that it might halt its UK operations.
Amidst speculations that Geely, its Chinese owner, was contemplating ceasing production at the Hethel plant in Norfolk, jeopardising 1,300 jobs, Lotus has clarified with a statement that there are “no plans” to shut down the facility.
Privately owned automotive conglomerate Geely also includes Volvo and Polestar among its major brands and also holds major stakes in Aston Martin and Mercedes-Benz.
Labour’s Jonathan Reynolds is scheduled to converse with the firm on Sunday, according to information shared with PA. Since 2017, the iconic British sports car maker has been under the majority ownership of the Chinese conglomerate Geely.
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The Financial Times had previously suggested that Lotus was considering closing its UK operations and establishing a new factory in the US.
However, on Saturday, Lotus aimed to alleviate worries by affirming its dedication to the UK, describing it as its biggest commercial market in Europe and the “heart” of the brand.
“Lotus Cars is continuing normal operations, and there are no plans to close the factory,” the company announced.
“We are actively exploring strategic options to enhance efficiency and ensure global competitiveness in the evolving market.
“We have invested significantly in R&D and operations in the UK, over the past six years. Lotus remains committed to the UK, and its customers, employees, dealers, suppliers, as well as its proud British heritage.”
In a story typical of our country’s motoring innovations, the iconic British car manufacturer Lotus was started in a garage in 1948 by engineer Colin Chapman. However, following his death, the company struggled and fell into the hands of a series of foreign owners.
A Government spokesperson maintained: “The Government does not comment on speculation or the commercial affairs of private companies.”