Lotus will be cutting 550 jobs from it's Norfolk based headquarters which is based near Wymondahm

They currently employ around 1,300 works at the local site, but will be cutting their workforce by just under 50%.

In a statement Lotus said "We believe this is necessary in order to secure a sustainable future for the company in today's rapidly evolving automotive environment, which is seeing uncertainty with rapid changes in global policies including tariffs."

They had previously denied reports that the company was closing the Wymondham based site and setting up a new plant in the US.

They have now confirmed the job cuts, but state they are "fully committed to the UK, and Norfolk will remain the home of the Lotus' sports car, motorsports and engineering consulting operations."