Lotus Cars is cutting up to 200 jobs as part of a "workforce restructure".

The Norfolk-based firm made a loss of £145.1m before tax in 2022, versus a deficit of £86.6m the year prior.

As a result, Lotus has announced that it will be cutting back its workforce to "ensure that the right organisational structure is in place".

In a statement, a Lotus spokesman said that the move "includes a restructure of its workforce, which may involve the loss of up to 200 jobs".

He added: “Wherever possible, we will look to support the redeployment of staff and plan to look for ways to retain specific skills and knowledge within the business, despite the proposed cuts.

“We believe this is vital to ensuring the organisation is leaner and more competitive long-term.”

It has not yet been specified where the job cuts will take place but Lotus is reported to have around 1,500 employees.

Lotus, owned by Chinese firm Geely, also saw sales of its cars fall to just 576 vehicles during 2022, despite the introduction of its new Emira sports car, contrasting the 1,566 vehicles it sold in 2021.

However, Lotus has been in the process of introducing a variety of new models, including the electric Eletre SUV – built in China – which appears to be core to the firm’s electrification journey.

Lotus added that it "will continue to concentrate efforts on the production of the Emira sports car and Evija hypercar, with 2023 set to be a record year for vehicle production before we turn our attention to our future EV sports cars".