Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Be informed with free updates
Simply register Cars Myft Digest – Delivered directly to your box.
Lotus, for more than 70 years, planned to finish its production in the UK in England in 70 years in the last blow in the country’s automotive industry.
The English athlete Carmaker, managed by China Karmakozy Geely, has a fight to pay for the suppliers in recent weeks, causing a temporary stopping in the Hethel plant in Norfolk for about two people who know the discussions.
The company plans to stop production at the plant – the only production base in England – as soon as possible in the next year.
In a statement to the Financial Times, Lotus said that production was intervened in mid-May to manage reserves between the problems of the supply chain associated with the US tariffs. The company and Matt Workle, Lotus Cars refused to comment on Europe’s boss, “Shayi”. Geely also rejected the comment.
In 2017, the Lotus had a 51 percent stake, and the Malaysian owner received a 51 percent share under a contract to invest in Proton.
GEELY’s investment was seen in 1948 for a lifetime for the company established in London and years later. The Chinese group invested close to new technology and factory equipment for about £ 3 billion, but his attention went to a new plant in Wuhan.
The Chinese car group listed Lotus technology last year – by combination with a shell company built by a lvmh supporting investment group in the United States. In April, Lotus Technology said he would receive 51 percent of Geely In the British businessAfter Chinese company, he made a choice to sell the share.
Geely, who has Volvo Cars and Polestar, and Azvo cars, global assets, and since last year.
In 1966, the end of the production in the Hethel plant established by Lotus, Honda and Ford in the last ten years, the United Kingdom will come as a further blow to the production of car production.
The production of vehicles in the UK collapsed to the lowest level since 1949, then the Tariff War forced Aston Martin and other British carmakers to the United States.
