Business Secretary Jonathan Reynolds will hold talks with Lotus after the carmaker moved to ease concerns over the future of its UK factory.
The UK’s Business Secretary Jonathan Reynolds is set to speak with Lotus after reports that its Chinese owner, Geely, was considering shutting production at the Hethel plant in Norfolk, risking 1,300 jobs.
Lotus issued a statement saying it had “no plans” to close the factory and remained committed to the UK, its largest commercial market in Europe.
The Financial Times had reported that Lotus was weighing shifting production to a new facility in the US.
In its statement, Lotus said operations in Norfolk were continuing as normal and that it was “actively exploring strategic options to enhance efficiency and ensure global competitiveness.”
Lotus also highlighted its recent investments in UK R&D and operations since Geely took majority ownership in 2017.
A UK government spokesperson declined to comment on commercial speculation but confirmed Reynolds will hold talks with the company.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 21st May, covering the latest developments you need to know.
Britain has struck a major trade agreement with the Gulf Cooperation Council (GCC), expected to be worth around £3.7 billion ($4.96 billion) a year in the long run.
Britain’s unemployment rate has risen to 5% as the government urges supermarkets to cap prices on essentials including bread, eggs and milk amid mounting pressure over the cost-of-living crisis.
The inaugural Enhanced Games began in Las Vegas on Sunday (24 May), launching one of the most controversial experiments in modern sport, in which athletes openly compete using performance-enhancing drugs banned under traditional anti-doping rules.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
A "largely negotiated" memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, U.S. President Donald Trump said on Saturday, though the Iranian Fars news agency disputed that claim.
Police fired tear gas and clashed with protesters in central Belgrade on Saturday, as tens of thousands gathered to demand early elections and an end to the more than decade-long rule of Serbia's President Aleksandar Vučić.
WHO Director-General Tedros Adhanom Ghebreyesus said on Monday (25 May) that there have been 200 suspected deaths linked to the rare Bundibugo strain of Ebola that have been recorded in eastern DRC.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
Elon Musk’s SpaceX will have to improve its reliability before receiving approval for its target 10,000 launches annually within five years, Bryan Bedford, Head of the U.S. civil aviation agency, the Federal Aviation Administration (FAA), has said.
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