If the UK does not mange to agree a deal with the EU,over Brexit, it could lead to tens of thousands UK motor industry jobs being lost.
These worrying forecasts come from Ralf Speth, chief exec of Jaguar Land Rover. Speth made these comments at the zero emissions summit in Birmingham.
He told Sky News: “Just one part missing could mean stopping production at a cost of £60m a day. That is a huge risk. We depend on free, frictionless, seamless logistics.”
Jaguar is the UK’s biggest car maker and employs around 40,000 people in Britain.
He warned: “It is thousands of pounds cheaper to produce vehicles for instance in eastern Europe than in Solihull and what decisions will I be forced to make if Brexit means not merely that costs go up but that we cannot physically build cars on time and on budget in the UK?” he said.
He continued: “What decisions will we be forced to make, if Brexit means not merely that costs go up, but that we cannot physically build cars on time and on budget in the UK?”
He said: “Six months from Brexit and uncertainty means that many companies are being forced to make decisions about their businesses that will not be reversed, whatever the outcome, just to survive.”
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .