Lotus can't afford to only sell 576 cars a year.
Lotus experienced a significant decline in shipments last year, with only 576 cars delivered, starkly contrasting the 1,566 vehicles produced in 2021. The financial situation is equally concerning, as the company suffered a loss of £145.1 million ($186.6 million) in 2022 – almost twice the loss it had the year prior. Amid the company's transition to exclusively sell EVs, this isn't looking good.
With Lotus announcing its move to become an EV company, the British marque only has one combustion-powered car left before the change is made, that being the Lotus Emira. However, even the Emira has faced delays, particularly in the US.
The sales situation is poised to improve this year and the next, but not without a concrete solution.
Lotus has initiated a process to streamline its organizational structure to address these challenges and reduce expenses. In a statement sent to Top Gear, the company confirmed the plan, which involved axing up to 200 jobs off its workforce.
“Lotus Cars' proposal for a reorganization of its business is to ensure that the right organizational structure is in place for us to achieve our business goals and to build a strong, sustainable future. This includes a restructure of its workforce, which may involve the loss of up to 200 jobs.”
The British marque has confirmed that the production won't be affected, with only engineering and administration targeted for the job cuts.
Lotus is set to ramp up the Emira's production this year with the recent introduction of the AMG-powered version of the sports car.
The Evija all-electric hypercar is also set to be delivered soon. Gavan Kershaw, director of Attributes and Product Integrity for Lotus, confirmed it will happen in August.
“At Monterey, Pebble Beach, we'll be handing over our first customer cars,” Kershaw told CarBuzz.
Only 130 units of the $2.6-million Evija will be produced, with units still open for ordering.
The Lotus Eletre SUV will follow suit, while another electric model, in the form of a sedan, will be introduced to reinforce the British automaker's lineup – hopefully will effectively help the brand recover from the losses it suffered.
Keyword: Lotus Suffers Tremendous Losses In Its Transition To An Electric Automaker