Prof. Dr. Ralf Speth, Chief Executive Officer of Jaguar Land Rover (JLR) Automotive plc, Britain’s largest vehicle manufacturer, today called on the UK Government to urgently provide certainty for business including guaranteed tariff-free access and frictionless trade with the European Union.
Ahead of the publication of a White Paper outlining the Government’s proposed post-Brexit trading relationship with the EU, Dr. Speth said that despite being based in Britain, JLR’s supply chain stretched across the EU and depended heavily on frictionless free trade with the continent.
If the UK received a poor deal with the EU, JLR would stand to lose more than £1.2bn in profit annually. Dr. Speth warned that getting Brexit wrong would mean putting Britih people, businesses and society to lose the chance to lead in terms of smart mobility.
