5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Investing

Lotus denies plans to close Hethel factory amid US expansion talks

by
June 29, 2025
in Investing
0
Lotus denies plans to close Hethel factory amid US expansion talks

Lotus has insisted it has “no plans” to shut down any of its UK manufacturing sites following reports it was weighing a potential production shift to the United States.

The carmaker, best known for its lightweight sports cars and deep-rooted British heritage, was reported by the Financial Times to be reviewing whether to move some production overseas—putting as many as 1,300 jobs at risk at its Hethel headquarters in Norfolk.

In a statement released on X (formerly Twitter), the company confirmed that it is “actively exploring” new global market opportunities but stressed that “Lotus Cars is continuing normal operations. There are no plans to close any factory.”

Sources at Lotus told the BBC the situation remains under review as the firm evaluates its international production footprint. A key factor driving discussions is the imposition of 25% tariffs on imported vehicles and car parts by the US, a significant market for Lotus. The tariff hike has temporarily disrupted production in Hethel and complicated transatlantic sales.

The Business Secretary, Jonathan Reynolds, is expected to hold talks with Lotus’s owners in a bid to reassure both the company and local stakeholders.

“Lotus remains committed to the UK, to our customers, employees, dealers, suppliers, as well as our proud British heritage,” the company said in a follow-up statement, emphasising the importance of its Norfolk roots.

The uncertainty has prompted local political intervention. Ben Goldsborough, Labour MP for South Norfolk, said he was “deeply concerned” by the rumours surrounding a potential closure of the Hethel plant.

Posting on Facebook, he said he had held “telephone conversations” with Lotus and government officials and vowed to fight to keep the facility open. “I want to be absolutely clear: I will do everything in my power to ensure that the Hethel facility remains operational and that Lotus continues to thrive in Norfolk,” he said.

Lotus’s Hethel site has been its manufacturing base since 1966 and recently underwent major investment as part of the company’s transition to electric vehicles. The firm, now majority-owned by China’s Geely, has been expanding its global ambitions, with a growing focus on North America.

While speculation about a US facility has reignited concerns about Britain’s competitiveness as an EV manufacturing hub, Lotus’s messaging remains consistent: the brand may be going global, but it is not abandoning its UK foundations—for now.

Previous Post

Government urges supermarkets to make healthy food more appealing in bid to tackle obesity crisis

Next Post

P20.4-M drugs seized in Zamboanga City

Next Post
P20.4-M drugs seized in Zamboanga City

P20.4-M drugs seized in Zamboanga City

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    CSP could be waived for first nuclear project

    CSP could be waived for first nuclear project

    June 29, 2025
    Century Pacific Food agrees to P1 reduction in price of its sardines

    Century Pacific Food agrees to P1 reduction in price of its sardines

    June 29, 2025
    New palay-buying rules ensure registered farmers benefit from support price — SINAG

    New palay-buying rules ensure registered farmers benefit from support price — SINAG

    June 29, 2025
    National Gov’t gross borrowing declines nearly 26% in May

    National Gov’t gross borrowing declines nearly 26% in May

    June 29, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.