Lotus has revealed that it has been forced to to consider cutting 200 jobs from its two bases in Hethel, Norfolk and Wellsbourne, Warwickshire. The company has also revealed bleak financials, which have resulted in a loss of £145.1 million, an increase over 2021 which saw a loss of £86.6 million. The company has also only sold 576 cars in 2022.

The only car Lotus produced was the Emira last year after the Exige, Evora and Elise were discontinued in 2021. The company is gearing up to launch the new Eletre SUV this the year, the first SUV and EV for the brand. Despite the revenue dip, the company is hopeful that 2023 will be a “record year” for car production, thanks to the new Eletre.