Toyota to stay in UK despite Brexit 0

toyota-to-stay-in-uk-despite-brexitIn welcome news post Brexit; the world’s largest car manufacturer, Toyota, has said it intends to remain in the UK, even if trading conditions should change following Britain’s exit from the EU.

The executive vice-president of the Japanese giant, Didier Leroy, said it trusted the UK government to provide “fair treatment” allowing businesses to maintain competitive in the post-Brexit future.

“It will be a big negative impact in terms of competitiveness if we have trade taxes. But at the same time, does it mean that we should give up everything?” said Mr Leroy.

He went on to say: “No, We have a fighting spirit and we fully trust in the people in our UK plant.”

The company employs 3,400 workers in the UK, and these comments come after Nissan was provided with assurances by Prime Minster Theresa May, that trading conditions for its car plant based in Sunderland would remain the same following Britain’s exit from the EU.

Greg Clark, the UK business secretary was asked if Toyota had been given similar assurances, he responded that the company had been given assurances that that the government would “do their best”.

“We trust in the UK government that it will be a fair treatment for everybody. They cannot commit on something that is not existing yet,” he added.

Chief executive of the Renault-Nissan alliance, Carlos Ghosn, met with Theresa May ahead of making a decision soon on whether to build the new Qashqai SUV in Sunderland.

The group has previously said it would not invest any further unless the government offered assurances that it would not face greater tariffs, or that it be compensated otherwise.

“We’re not asking for any advantage [from the government], but we don’t want to lose any competitiveness, no matter what the discussions,” Mr Ghosn said on Friday. “As long as I have this guarantee?…?I can look at the future of Sunderland with more ease”.

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