By Marcus Leach
Lotus Cars have announced that despite losing a £27.5 million bid for government money they are hopeful of creating a further 1,200 jobs in Norfolk.
Short-term job cuts are being made, but Group Lotus chief executive Dany Bahar said that the car manufacturer still had a five-year investment plan in place.
Lotus has now applied for £10.4 million of funding from the Regional Growth Fund.
"In five years we should grow between 600 and 1,200 jobs," said Mr Bahar.
"The reduction of a few jobs is to simply size the business to the current output we have."
However, Mr Bahar stressed that going forward the work force would grow to match future output.
Mr Bahar unveiled the news as he gave Business Secretary Vince Cable a tour of Lotus Cars' manufacturing facility in Hethel on Monday.
"I wish them well because they've clearly got a very good operation here," Mr Cable said.
"We do need companies like Lotus. The British car industry was written off years ago and is now really reviving."
Join us on