Lotus to Hire 200 Engineers for U.K. Expansion, Telegraph Says

(Bloomberg) -- Sports carmaker Lotus is hiring 200 additional engineers as it looks to accelerate a turnaround plan bankrolled by China’s Geely, the Sunday Telegraph reported.

Under a strategy to triple production to 5,000 cars a year, the loss-making company is also opening an engineering center in the Midlands, in central England, the first time it has expanded beyond its Norfolk home, according to the report.

Geely took a controlling stake in Lotus in 2017 in a 100 million-pound ($130 million) deal.

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