Brexit leads to plant closures, billions of dollars lost and staff cuts: Jaguar maker Land Rover warns that it could close British plants after Brexit. "We were planning to invest another 80 billion in the next five years"

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authors:

Bianca Ciocotisan

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Mediafax
Jaguar Land Rover Executive Director, Ralf Speth, said Thursday that in the case of an adverse Brexit arrangement, planned investments for the next five years could be affected and could even be forced to close some factories, reported the BBC. "An unfavorable Brexit deal could erode Jaguar Land Rover's earnings by more than £ 1.2 billion each year, so we'll see we need to drastically adjust our spending profile." have spent about 50 billion pounds in the UK over the past five years and plan to invest another 80 billion in the next five years, "said Ralf Speth, executive director of Jaguar Land Rover [19659003] most UK's largest automaker, owned by the Indian company Tata Motors, says that in case of a bad deal with Brexit, the company should close its factories. "If we were to leave, as part of an unfavorable deal, then we should close the factories we have here in the UK, which would be very, very sad.It is hypothetical until the end of the year. now, and I hope this is an option we will not use, "said Ralf Speth for the Financial Times, quoted by the BBC.