Jaguar Land Rover: UK plants and at least 40,000 jobs are at risk if the country leaves the European Union without a free trade deal
Jaguar Land Rover says Brexit risks UK plant closures. Ahead of a critical cabinet meeting, the country’s biggest carmaker joins BMW and Airbus in a warning to government over Brexit. UK plants and at least 40,000 jobs are at risk if the country leaves the European Union without a free trade deal, Britain’s biggest carmaker has warned.
Jaguar Land Rover (JLR) has told the government that, while its „heart and soul” are in the UK, a bad Brexit could force a re-think, with a „no-deal” scenario forcing it out of the UK because of an expected £1.2bn surge in tariff costs.
JLR exports 80% of its cars worth £18bn annually.
Dr Ralf Speth, chief executive of JLR, said: „We, and our partners in the supply chain, face an unpredictable future if the Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market.
„We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees.”
There are also a further 260,000 jobs connected to the company’s supply chain. Dr Speth added: „A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.
„As a result, we would have to drastically adjust our spending profile. „We have spent around £50bn in the UK in the past five years, with plans for a further £80bn more in the next five.
Source: Sky News