Home / Investors News / Britain's JLR says 'bad Brexit' would mean it could not stay in UK

Britain's JLR says 'bad Brexit' would mean it could not stay in UK

© Reuters. New Land Rover cars are seen in a parking lot at the Jaguar Land Rover plant at Halewood in Liverpool, northern England.

EDINBURGH (Reuters) – Britain’s biggest vehicle maker Jaguar Land Rover [TAMOJL.UL] said on Wednesday a so-called hard Brexit would cost it 1.2 billion pounds ($1.59 billion) a year, curtailing its future in the United Kingdom.

“A bad Brexit deal would cost Jaguar Land Rover more than 1.2 billion pounds in profit each year. As a result, we would have to drastically adjust our spending profile; we have spent around 50 billion pounds in the UK in the past five years – with plans for a further 80 billion pounds more in the next five,” JLR’s Chief Executive Ralf Speth said, confirming the details of an interview given to the Financial Times.

“This would be in jeopardy should we be faced with the wrong outcome.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

About admin

Check Also

Japan PM Abe sends ritual offering to war dead shrine on World War Two 75th anniversary

© Reuters. Visit to Yasukuni Shrine in Tokyo on the 75th anniversary of Japan’s surrender …

Leave a Reply

Your email address will not be published. Required fields are marked *