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Jaguar Land Rover Says 40,000 Jobs At Risk From Bad Brexit Deal

09 July 2018

For its part, the British Retail Consortium noted that fully half of Britain's food is imported, mostly from the European Union, and those supplies rely on intricate and fragile trading links.

Auto manufacturers, which rely on complex worldwide supply chains, are anxious that Brexit will lead to new trade barriers and delays at the borders.

According to Jaguar Land Rover, a bad Brexit deal will end up eating into the company's profits by as much as £1.2bn annually.

Calling on the government to urgently provide certainty for business, the firm's chief executive Dr Ralf Speth has warned that failure to maintain tariff-free access and frictionless trade with Europe would affect the company's future in the UK.

Jaguar Land Rover (JLR) has stated that it will need access to the single market beyond Brexit to stay competitive and greater certainty to continue to invest in the UK. But they are obviously anxious about having access to the European market.

More ominously, Speth indicated that an unfavorable scenario for the automaker, one which would see costly or radical changes to the tariff and customs-free access to the European Union, disrupting "just-in-time" manufacturing processes, could result in the automaker shifting its operations elsewhere.

He added, "A bad Brexit deal would cost Jaguar Land Rover more than GBP 1.2 billion ( ₹ 10,911 crore) profit each year".

'This would be in jeopardy should we be faced with the wrong outcome. We want to stay in the UK.

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He also said JLR was still keen to invest in the UK.

"We can not afford to lose Jaguar Land Rover and its supply chain - it would be an economic vehicle crash".

Jaguar Land Rover has joined a chorus of businesses warning over the impact of Brexit.

It came as Theresa May called her Cabinet to present them with the full white paper - the UK's official negotiating position - and attempt to get agreement before delivering it to Brussels.

Last month, JLR said it would shift production of its Land Rover Discovery SUV to a new plant in Slovakia, potentially leading to some job losses in the UK.

But the company had also revealed plans to invest in the Solihull site to allow it to build its new Range Rover models, some of which will be electric-powered, from 2020.

One in three cars exported from the United Kingdom are Jaguars or Land Rovers.

SMMT - The Society of Motor Manufacturers and Traders (SMMT) said Brexit uncertainties have already caused a significant drop in sector investment to £347 million in the first half of the year, down from £647 million in the same period in 2017.

Jaguar Land Rover Says 40,000 Jobs At Risk From Bad Brexit Deal