Toyota May End Production in Britain
Frankfurt, March 7 (Jiji Press)--Toyota Motor Corp. <7203> may end production in Britain if the country exits from the European Union with no deal, it was learned Thursday.
At present, Toyota has two manufacturing plants in Britain for vehicle and engine production. One is in Burnaston and the other in Deeside, both central Britain.
Vehicles produced in Britain are mainly exported to other EU member countries, while auto parts are imported from them. If trade tariffs become necessary after Brexit, substantial costs will fall on Toyota.
According to informed sources, an option for Toyota would be to review its investments in Britain without ruling out the possibility of terminating production in the country.
Toyota is expected to consider whether to continue production in Britain after a projected shift to the next Corolla model in 2023.
[Copyright The Jiji Press, Ltd.]