By Nina Kienle
U.K. carmaker Lotus Technology said it is actively exploring strategic options for its Hethel plant in England, but ruled out a closure.
The British sports-car maker in April warned of heavy cost savings on global trade uncertainties, citing the 25% import tariff on foreign-made cars in the U.S. as a contributing factor.
The company owned by China's Geely, who also controls Volvo Car, posted a first-quarter net loss of $183 million compared with a loss of $258 million compared to the prior year period. Revenue fell 46% at $93 million.
Total deliveries decreased to 1,274 units from 2,194 units.
After press reports that Lotus was considering ending the production at the Hethel plant, the sport-scar maker said it is continuing normal operations and that the closure has been ruled out.
"Lotus remains committed to the U.K., and its customers, employees, dealers, suppliers, as well as its proud British heritage," it said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
June 30, 2025 04:25 ET (08:25 GMT)
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