Jaguar Land Rover Chief Executive calls for greater Brexit certainty

Jaguar Land Rover boss: Brexit threatens £80bn UK investment

In other words, companies want the future to be predictable. As the Jaguar and Land Rover brands grow their electric and autonomous offerings, this investment will grow.

However, all that could be put in "jeopardy" with a bad deal with the European Union as Britain prepares to exit the economic bloc in March next year. In 2016, Britons voted for Brexit, i.e., they voted to leave the EU.

Like Jaguar Land Rover, BMW said it would have to close its Mini and Rolls-Royce production facilities if a trade agreement isn't reached.

Dr. Speth described the company as the UK's 'heart and soul'.

A Brexit arrangement that doesn't ensure full, tariff-free access to the European Union's single market will be highly costly to the United Kingdom's largest auto maker, he said.

Balaji added: "As this worst case Brexit scenario is just one of the many possibilities, our plans which were shared at the JLR analyst meet in the United Kingdom did not factor them and we continue to stand by what was shared".

"The PM has been very clear that we take the views of business seriously and we also know the importance of providing certainty as we leave the European Union", the spokesman told reporters. "This is hypothetical, and I hope it's an option we never have to go for", Speth told the newspaper.

JLR's CEO Ralf Speth said in a statement: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2 billion in profit each year". "This would be in jeopardy should we be faced with the wrong outcome". The nation has incessantly made the case for free trade.

With its centre in Gaydon - one of its principle engineering sites and the headquarters for Land Rover - JLR is a major employer of people living in Mr Weston's constituency. If the British Government wants to maintain those job numbers, it must negotiate a free-trade deal with the EU.

Shares in Tata plunged to their lowest in more than five years on Thursday, as investors turned jittery on the company, whose biggest business is JLR, which contributed almost 77 percent of its total revenue in the year ended March 31, 2018. If the negotiations fail, more than 40,000 employees might get affected.

In 2017 the company sold 621,000 cars, with 80 percent of them heading overseas. "Land Rover sales declined slightly in June as China waited for the welcome reduction in import tariffs as of July". Therefore, mainland Europe is a crucial market for the company's well-being.

In the current financial year JLR intends to invest £4.5bn, with more than half going into development of new vehicle models and technologies.

Related News:

  • Syria's air defenses hit Israeli warplane, intercept missiles targeting Syrian air base

    Syria's air defenses hit Israeli warplane, intercept missiles targeting Syrian air base

    Israel has grown deeply alarmed by the expanding clout of its arch-enemy Iran during the seven-year war in neighbouring Syria . But Syrian government officials repeatedly said that the targeted areas are Syrian bases and the soldiers killed were Syrians.
    Trump lawyer blasts Russian Federation  probe as 'most corrupt' ever

    Trump lawyer blasts Russian Federation probe as 'most corrupt' ever

    Speaking on Sunday, Giuliani seemed unfazed by the recent developments - noting that Cohen "should cooperate with the government". That was based on an interview with you. "Comey says he took it as direction", host George Stephanopoulos interjected.
    David Davis resignation plunges government into crisis

    David Davis resignation plunges government into crisis

    Ian Lavery, chairman of the main opposition Labour Party, said: "This is absolute chaos and Theresa May has no authority left". Davis then chaired the powerful public accounts committee in the lower House of Commons from 1997 to 2001.
  • Robin Wright saved 'House of Cards': Patricia Clarkson

    Robin Wright saved 'House of Cards': Patricia Clarkson

    That led to additional accusations coming to light and and - for awhile at least - an uncertain future for the popular series. Production on season six was halted in October 2017, but resumed at the beginning of 2018. "It's only eight episodes".

    Who’s in line to take over from David Davis as Brexit Secretary?

    It comes at a critical and highly sensitive time for May's strategy, as she seeks to make progress in negotiations in Brussels. Davis's resignation could embolden Brexit-supporting Conservative parliamentarians to challenge May's leadership.
    UK's ex-Brexit minister Davis says not calling for other resignations

    UK's ex-Brexit minister Davis says not calling for other resignations

    He said he was anxious the government's negotiating approach would "lead to further demands for concessions" from Brussels. That agreement, at her Chequers country retreat, was meant to kick-start talks that have been stalled for months.
  • Plastic straws are now banned in Seattle

    Plastic straws are now banned in Seattle

    But because of the market, plastic utensils and straws have been exempted in Seattle's ban until now, the newspaper reported. California's Legislature is considering statewide restrictions, but not an outright ban, on single-use plastic straws.
    Huge blast rocks Mogadishu near security ministry headquarters

    Huge blast rocks Mogadishu near security ministry headquarters

    Another security official said the attackers included a suicide bomber and three gunmen. More than 10 people were wounded and the death toll could rise, Col.
    Iran executes eight over deadly IS attacks in Tehran

    Iran executes eight over deadly IS attacks in Tehran

    As reports "Radio Freedom", we are talking about attacks on the Parliament and the mausoleum of Ayatollah Khomeini. Economic problems, water scarcity and other woes meanwhile have led to protests in Iran.
  • Meghan Markle was published in elegant yellow MIDI dress

    Meghan Markle was published in elegant yellow MIDI dress

    Meghan's speech habits previously caused a slight controversy during her appearance in Edinburgh in February. The encounter was recorded nearly a month after Meghan and Prince Harry's royal wedding.
    Offers on the table but Paulinho won't rule out Barcelona stay

    Offers on the table but Paulinho won't rule out Barcelona stay

    Paulinho rejoins manager Fabio Cannavaro and his Guangzhou side, who now sit in 5th position after 11 games in the Chinese Super League.
    Brexit secretary David Davis has resigned

    Brexit secretary David Davis has resigned

    I'm disappointed that so-called Brexiters in the cabinet didn't pick up the cudgels and fight for a better offer". The proposals were agreed after a marathon meeting at Chequers on Friday.

Most liked

China Cancels U.S. Soybean Purchases as Trade War Takes Hold
Trump argues that the deficit with China is a problem that has to get resolved now rather than later. That may well be true, but it's about to be true for the rest of American consumers too.

Kylie Jenner gets rid of her lip fillers
Another stated: "You look awesome, fresh , young and attractive with your natural self". "I didn't feel desirable or pretty". Another added: 'I love you the more natural you! "Your [natural] lips are attractive ", another fan wrote.

Long Putts Key Irish Open Playoff Win for Russell Knox
That allowed Spaniards Jorge Campillo and Jon Rahm to contend, with the duo shooting 65 and 66 respectively. I said to my caddie (on the play-off hole) we've already made this putt, it can't be too hard .

Courtois speaks on mocking England goalkeeper, Pickford
The Sky Sports Power Rankings will be updated after each round at the World Cup, so be sure to keep an eye on the big movers. Ola Toivoinen also found himself thwarted by Pickford's quick reflexes when the net seemed sure to bulge.

Spain Confirm Coach's Exit After World Cup Exit
The 50-year-old has made a decision to turn down his former role, despite being still under contract with the Spanish FA (RFEF). Hierro, 50, was placed in temporary charge of Spain after they sacked Julen Lopetegui on the eve of the tournament.

Are UK gulls drunk?
Animal welfare experts, think that the birds' inebriated state may be the result of feeding on brewery waste. Rescue of seagulls began in mid-June and all birds have been showing the same symptoms.

Thai cave rescue site cleared to 'help victims'
On Saturday morning, the Thai Navy posted photos of letters the group had written to their family and the outside world. Earlier efforts to pump out water from the cave have been set back every time there has been a heavy downpour.

The Warriors Are Reportedly Signing Another Free Agent On Monday
An eight-year National Basketball Association veteran, Jerebko can sign a veteran minimum deal with the Warriors, ESPN reported. The Utah Jazz opened a roster spot Saturday morning by announcing the team had waived forward Jonas Jerebko .

Boys Freed From Thailand Cave as Rescue Mission Begins
They had also been exploring whether they could drill down into the cave, as well as scouring the mountainside for another way in. Authorities in northern Chiang Rai province began the unsafe mission to bring out the 12 boys and their coach earlier on Sunday.

Unhappy Hamilton points finger at Ferrari's 'interesting tactics'
After the race, Hamilton walked away from the interviews conducted in parc ferme and went straight to the cool-down room. Raikkonen added: "Things happen sometimes".

Southgate: England are still improving
This coming of age is gratifying on footballing and cultural levels, as the bond is remade between team and supporters. The England star scored for the Three Lions during their 2-0 quarter final victory over Sweden .

Tropical Storm Beryl speeding toward eastern Caribbean
Tropical Storm Chris , which continues to linger off the North Carolina coast, is expected to become a hurricane on Monday. Tropical Storm Beryl is moving rapidly westward toward the Lesser Antilles at the eastern entrance of the Caribbean Sea.

Markets Right Now: Markets snap higher despite trade tiff
Markets were watching to see if tight labor market conditions would force wages higher, a sign of inflation. The Russell 2000 index of smaller-company stocks picked up 19.06 points, or 1.1 percent, to 1,679.48.

Simpson shoots 61 to lead at Greenbrier
The shot landed on a hillside. "I felt like I played good last week but a couple of breaks here and there and you miss the cut". Kirk wasted no time in picking up from where she left off previous year , when she won the inaugural edition of the tournament.

India wins T20 series with England 2-1
We applied pressure and pulled the game back. "We are just enjoying the game rather than thinking about what has got to happen". England had a good opportunity to amass a huge total, but India fought back after the twin dismissals of the English openers.