Brexit won't hit Jaguar's long term investment plan in UK
JLR CEO Ralph Speth co-signed a letter from the UK bussiness leaders urging the nation to remain in the EU.After being a staunch supporter of the...
JLR CEO Ralph Speth co-signed a letter from the UK business leaders urging the nation to remain in the EU.After being a staunch supporter of the Remain campaign (urging UK not to leave EU), Jaguar Land Rover has announced that it’s business as usual and it’s long term investment plans in the UK will not be affected by Brexit.After the referendum to exit EU emerged, a JLR company spokesperson stated:
JLR says that Brexit won’t affect its long term investment and expansion plans in the UK.We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions.
The person went on to state that the company respects the voters’ decision and will analyze the issues arising from the EU exit in the future. He also said that there are no immediate effect on its bussiness or on the British automotive industry in general.
The company’s 500 million pound expansion plan for its global headquarters in Whitley has just received government approval. The new HQ is estimated to generate 2,000 new jobs in addition to the existing work force of 5,600. The expansion will also generate 500 construction jobs during the course of building the infrastructure.
The company has announced a 500 million pound expansion of its global HQ in Whiteley.Jaguar Land Rover has assured that it will work in all the parties involved in the negotiation process of UK leaving the EU to ensure that the British automotive industry is taken into account at each and every step.
It’s being reported that around 80% of the cars manufactured in the UK are exported of which 60% of them go to Europe. UK needs to safegaurd its automotive industry’s interests during the negotiation process.
This article has first appeared in Rushlane.com