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Jaguar Land Rover (JLR) warned that a so-called hard Brexit would cost him £ 1.2 billion ($ 1.59 billion) a year and would threaten his future in the UK.
JLR CEO Ralf Speth said in a statement: "A bad Brexit deal would cost Jaguar Land Rover more than $ 1.2 billion a year."
"As a result, we should drastically adjust our spending profile: In the last five years, we have spent about £ 50 billion in the UK, with forecasts of another $ 80 billion over the next five years. That would be in danger if we were to face the wrong result. "
Speth's statement confirmed earlier comments that he made in an interview with the Financial Times, published late Wednesday.
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"We have an urgent need" In the current state of affairs, the current Brexit policy of Theresa May is to leave the single market and customs, "he added. that the companies warned will lead to costly delays for supply chains through tariff and non-tariff barriers to trade.
JLR is the largest manufacturer and exporter in Britain: a Jaguar or Land Rover and 80% of the 621,000 cars sold in 2017 were sold internationally and 20% went to Europe
In addition to sales, the uncertainty of future commercial relations with the company was not easy. Europe creates a headache for the automaker When it comes to its supply chain 40% of the parts that go into its cars are imported from continental Europe.
Speth and JLR called on the UK government to clarify urgent future trade agreements with post-Brexit Europe and to guarantee trade without customs duties.
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"The heart and soul of Jaguar Land Rover are found in the UK," Speth said in a statement. "However, we and our supply chain partners are facing an unpredictable future if Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market. ".
Jaguar Land Rover joins Airbus and Siemens to put pressure on the British government over Brexit. Airbus said a couple of weeks ago that a Brexit "without agreement" would require it to reconsider its presence in the UK, followed by Siemens with a similar warning shortly thereafter.
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