Auto firms at risk of extinction in the UK after Brexit says CBI

Business


Dreschler said the car industry is particularly vulnerable because of its “just in time” production method. This is a manufacturing technique developed originally by Japanese firm Toyota that allows assembly lines to receive raw materials and components as required by production schedules.

Dreschler warned that manufacturers, especially auto firms, will lose this flexibility as cross-border materials encounter additional cost and time-delays when entering the United Kingdom.

In a sign of nervousness over the post-Brexit landscape, Jaguar Land Rover announced Monday that it is to move production of its Discovery SUV to Slovakia from next year.

Dreschler, who is due to leave the CBI this week for a new role in the City of London, was also scathing of communication from the U.K. government.

“We have a negotiation within the U.K. government that’s gone on for nearly three years. We still haven’t got clarity about the future direction, about where we’re heading, what the future relationship with Europe will be, at a level of detail that matters for investment,” he added.



Source link

Products You May Like

Articles You May Like

Cramer’s charts suggest it’s still worth investing in bonds
Amazon in talks about UK insurance comparison website: Reuters
What you need to know about your employee stock purchase plan
Walmart teams up with Ellen DeGeneres for new clothing line
Constellation ups cannabis bet with $4 billion in Canopy Growth

Leave a Reply

Your email address will not be published. Required fields are marked *