Tuesday, 24 April 2018
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Toyota will invest $294 million in UK car plant



A worker is pictured on an assembly line at Toyota’s factory in Burnaston, in the UK.

Photo credit: Reuters




Reuters

March 16, 2017 13:03 CET

LONDON — Toyota Motor Co. said it will invest 240 million pounds ($294 million) in its UK car plant to allow it to build vehicles on a new platform, helping to boost competitiveness and promote the use of locally-built components.

But the automaker, which currently builds its Auris hatchback and family Avensis car at its Burnaston plant in the north of England, warned that continued tariff-free access to the European single market remained crucial as Britain leaves the EU.

“Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire,” Johan van Zyl, Toyota’s Europe chief, said.

“Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success.”

Earlier this month, Toyota said it may delay a decision on whether to build its next-generation Auris model at its UK car plant to see the outcome of Brexit negotiations. Toyota is due to end production of the current Auris model around the turn of the decade.

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