Ineos Automotive Cuts Hundreds of Jobs as UK Sales Plummet

In a major restructuring move, Ineos Automotive, the car company founded by British billionaire Sir Jim Ratcliffe, is set to axe several hundred jobs across its head office locations. The company says this is part of a strategic transition from its engineering phase into a more market-focused automotive business.

Ineos Automotive's sales have taken a significant hit this year, with the company reporting a 23% drop in sales of its Grenadier and Quartermaster models compared to 2024. The Grenadier, inspired by the classic Land Rover Defender, was Ratcliffe's passion project after the original Defender went out of production.

The job cuts come as Ratcliffe's wider Ineos industrial group faces growing pressure, including mounting debts and a flood of cheap products from China that are undercutting European markets. Ineos Automotive says the reorganization will allow it to better serve its customers by focusing on core manufacturing and commercial activities.

Despite the challenges, the company plans to open a new Americas headquarters in New Jersey. However, it has also put on hold the launch of a planned hybrid electric vehicle, the Fusilier, amid uncertainty over emission regulations across Europe.