[arista]

On the FT Saturday Edition Front Page


[Sportscar maker Lotus is considering
ending production at its home in the UK
in favour of setting up a new plant in the US,
the BBC understands.

Such a move would
put 1,300 jobs at risk at its
headquarters in Hethel, Norfolk.

Lotus refused to comment when asked
about any plans, which were first reported
by the Financial Times, but sources
within the company told the BBC the situation
is under review and taking production to
the US was under consideration.

It comes after production in Hethel
was temporarily suspended due to disruption caused
by the introduction of tariffs on cars being
imported to the US.

America is a major market for
Lotus but tariffs threaten its business,
with US sellers required to pay taxes
of 25% on imports of cars and car parts.
Figures released on Friday for the
UK's car industry revealed exports
to the US had halved as President
Donald Trump's tariffs caused some car
makers to halt shipments.

The UK government and
Trump administration have agreed
a deal to lower tariffs on UK-made cars
entering the US to 10%,
but it is not due to come into
force until the end of June,
meaning manufacturers have
had to pay the higher rate to date.

Lotus is majority owned by the
Chinese group Geely, which is in the process
of reorganising its diverse portfolio
of car brands, which also include Volvo,
Polestar and Lynk and Co.

The company currently builds cars in
Norfolk and in Wuhan, China.]


https://www.bbc.co.uk/news/articles/cdr3gn3lv8zo

Sad times with a Chinese Owner
and World trade was disrupted by President Trump.