Toyota to invest 240 million pounds in UK car plant
LONDON: Japanese carmaker Toyota said it will invest 240 million pounds ($294 million) in its British car plant to allow it to build vehicles on a new platform, helping to boost competitiveness and promote the use of locally-built components.
But the firm, which currently its Auris hatchback and family Avensis car at its Burnaston plant in the north of England, warned that continued tariff-free access to the European single market remained crucial as Britain leaves the EU.
"Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire," President and CEO of Toyota Motor Europe Dr Johan van Zyl said.
"Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success."
But the firm, which currently its Auris hatchback and family Avensis car at its Burnaston plant in the north of England, warned that continued tariff-free access to the European single market remained crucial as Britain leaves the EU.
"Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire," President and CEO of Toyota Motor Europe Dr Johan van Zyl said.
"Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success."
