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The boss of JLR makes clear statements about the Brexit negotiations.
(Photo: Bloomberg)
London In Britain, it is often said that Germans speak directly in a straightforward manner. The complaint will also make some Britons now Ralf Speth, the German CEO of Jaguar Land Rover (JLR): If the Brexit negotiations between the EU and Britain end badly, the automaker may have to "drastically adjust" its planned investments, had Speth announced.
A poor Brexit market would cost Britain's biggest builder "more than 1.2 billion pounds of profit each year". JLR and other companies in the auto industry are facing an unpredictable future if Brexit negotiations do not ensure unrestricted access to the European single market.
Speth joins a series of companies who have expressed concern about Brexit. In recent days, Airbus, BMW and Siemens have already warned that they must finally know what they needed to get ready.
The words of the native franc cause excitement in the UK, as many Britons use the Land Rover, Range Rover. and consider JL's Jaguar as "icons of the British economy". British Prime Minister, Theresa May, is being driven aboard a black Jaguar across the island, and even Queen Elizabeth II is sometimes sitting at the wheel of her Range Rover.
Speth himself had always insisted that JLR's "headquarters of heart, soul and business" would still be in the UK. JLR nevertheless belongs to the Indian company Tata, he has been managing the 62-year-old German for eight years.
Already shortly after the decision on the Brexit, Speth had said that it would make him sleepless nights, after all, the cars made by JLR belonged to the most important luxury export items of the British. But in the beginning, the German with the distinctive schnauzer was always confident that the London government knew just how much JLR and the British car industry as a whole was for the economy.
Several times Speth was in person for talks with the Prime Minister and warned of the consequences of Brexit – he did not help.
JLR alone employs more than 40,000 people in the UK, with around 260,000 jobs depending on the company. JLR recently announced that it was relocating the production of Land Rover Discovery to a factory in Slovakia – but it was not related to Brexit at the time.
According to Speth, JLR has spent the last five years spending about 50 billion pounds in the UK. Over the next five years, an additional £ 80 billion is planned. "It would be in danger if we were faced with the bad outcome of the negotiations," he warned. JLR had already spent ten million pounds preparing for the farewells of the EU. Since a franc can sometimes lack patience.
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