An exit from the United Kingdom of the European Union without agreement with the European partners would be an economic nightmare for the automaker. Its chief executive announced Wednesday night that the British company could reduce its activity across the Channel in this case.
Jaguar Land Rover (JLR), the UK’s largest automaker, said Thursday that a “hard” Brexit would cost it £ 1.2 billion (€ 1.35 billion) a year, which would cause it to cut its activities in the United Kingdom.
An exit from the United Kingdom of the European Union without agreement with the European partners would be an economic nightmare for the automaker. Its chief executive announced Wednesday night that the British company could reduce its activity across the Channel in this case.
Jaguar Land Rover (JLR), the UK’s largest automaker, said Thursday that a “hard” Brexit would cost it £ 1.2 billion (€ 1.35 billion) a year, which would cause it to cut its activities in the United Kingdom.
“We need more certainty to continue to invest heavily in the UK and to protect our suppliers, our customers and our 40,000 employees in Britain,” said Managing Director Ralf Speth in a statement on Wednesday night.
A cost of more than 1.2 billion pounds a year
The About Jaguar Land Rover (JLR), which brings together two iconic automotive brands in the UK, echo those of other companies who fear the impact on their business of output Britain of the Union without a commercial agreement.
“The recent JLR press release only reaffirms that a Brexit that increases bureaucracy and reduces the productivity and competitiveness of British industry is not in anyone’s interest , “ said Tata Motors. the Indian parent company of JLR.
The automaker also stressed the need for “free and fluid trade with the EU and unrestricted access to the single market” .
“A hard Brexit would cost more than 1.2 billion pounds each year at Jaguar Land Rover. We would be forced to drastically adjust our spending profile , “ said Ralf Speth.
“We have spent about 50 billion pounds in the UK in the last five years and we expect to spend 80 billion more over the next five years. All this would be compromised in the event of an unfavorable outcome. “
Several companies think from
The Financial Times reported on Monday (June 26th) that logistics issues could push the German BMW brand to also relocate its factories . For its part, Ferrovial, the Spanish group specializing in the exploitation of infrastructure, said last month consider transferring its holding company overseeing its international activities from Oxford to Amsterdam.
Airbus also warned of the consequences of the UK’s exit from the European Union, saying a Brexit without agreement on future trade relations with the EU would force it to reconsider its long-term position in the EU. country.
As for the German Siemens, he ruled that Britain should remain in the EU customs union, contrary to what London is considering.
