Overview

• Business Secretary Jonathan Reynolds convened emergency talks with Lotus management on Sunday to address reports that Geely might close the Hethel plant.
• Lotus has halted output at its Norfolk factory since mid-May to manage inventory and supply chain disruptions caused by a 25% US import tariff.
• In a statement to investors, CEO Qingfeng Feng confirmed the company is discussing localisation plans in the US with strategic partners to offset tariff impacts.
• Financial Times reports suggest a permanent closure of Hethel could occur as soon as next year, putting up to 1,300 jobs at risk if relocation proceeds.
• Despite speculation, Lotus insists it remains committed to its British base and highlights significant recent investments in UK research and development.