Tommy Tainant
Diamond Member
Jaguar boss: Brexit threatens investment
Jaguar Land Rover chief executive Ralf Speth said: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.
"As a result, we would have to drastically adjust our spending profile; we have spent around £50bn in the UK in the past five years - with plans for a further £80bn more in the next five.
"This would be in jeopardy should we be faced with the wrong outcome."
Mr Speth said the firm "urgently need
Jaguar Land Rover chief executive Ralf Speth said: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.
"As a result, we would have to drastically adjust our spending profile; we have spent around £50bn in the UK in the past five years - with plans for a further £80bn more in the next five.
"This would be in jeopardy should we be faced with the wrong outcome."
Mr Speth said the firm "urgently need greater certainty to continue to invest heavily in the UK".
JLR employs around 40,000 people across the UK.
Uncertainty over Brexit, as well as the future of diesel cars, has already led the carmaker to announce a series of changes to its UK business.
Jaguar Land Rover chief executive Ralf Speth said: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.
"As a result, we would have to drastically adjust our spending profile; we have spent around £50bn in the UK in the past five years - with plans for a further £80bn more in the next five.
"This would be in jeopardy should we be faced with the wrong outcome."
Mr Speth said the firm "urgently need
Jaguar Land Rover chief executive Ralf Speth said: "A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.
"As a result, we would have to drastically adjust our spending profile; we have spent around £50bn in the UK in the past five years - with plans for a further £80bn more in the next five.
"This would be in jeopardy should we be faced with the wrong outcome."
Mr Speth said the firm "urgently need
JLR employs around 40,000 people across the UK.
Uncertainty over Brexit, as well as the future of diesel cars, has already led the carmaker to announce a series of changes to its UK business.
