Brexit: Jaguar boss warns jobs and profits

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The boss of Britain 's biggest automaker has warned the government against the "good Brexit" or could wipe out the profits of his company and lead to major job cuts.

Ralf Speth of Jaguar Land Rover described the prospect of a break with the EU as "horrifying".

He was speaking at a conference in Birmingham, where Theresa May unveiled a "green" vehicle initiative worth 106 million pounds.

A spokesman for the Prime Minister said Brexit Checkers' proposals included protections for the auto industry.

Mr Speth, who had already warned of Brexit's impact on JLR, said that if "bad decisions" were made in negotiations with Brussels, this could result in the "worst of times" for the UK and cost the company more than £ 1.2. bn per year.

"Any conflict at the border puts companies at risk," he said at the first summit on zero emission vehicles in the UK.

"We are firmly attached to the UK, our home, but a hard Brexit will cost more than £ 1.2 billion a year to Jaguar Land Rover – it's scary, erasing our profits, destroying the investments share. "

He said that if UK productivity deteriorated after Brexit, he would be forced to move to a country like Poland, where it would be cheaper to make cars.

About one million people in the UK depend directly or indirectly on the success of their business, Speth said.

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He also criticized policymakers for putting in place more regulations and higher taxes on all diesel vehicles, when he said the new diesel cars produced by JLR were as environmentally friendly as gasoline vehicles.

Ms. May's official spokesperson said Brexit's government plan would protect industries that rely on fast import and export products.

"The Checkers plan includes specific proposals to protect jobs in sectors such as the automotive industry, which rely on just-in-time supply chains.

"The book of common rules would help to ensure a smooth trade with the EU and allow our automotive sector to continue to prosper," he added.

The spokesman said the government had "engaged with the auto industry throughout this process … We are working to get a good deal and the Prime Minister is confident that we will achieve it" .