The boss of Toyota's European business has warned that a no-deal Brexit could make its UK plants uncompetitive.
The carmaker’s chief executive said that future spending was dependent on post-Brexit trading conditions.
Tariff hit for electric vehicles likely to be £2,800 per car, with risks to UK’s net zero plans.
Japan said UK-EU deal was still crucial for Japanese business, especially its carmakers.
The European Union is about to formally reject a UK plea for special allowances for exports of electric cars in a post-Brexit trade deal.
After a February meeting between U.K. Prime Minister Theresa May and 19 Japanese business chiefs, Tokyo’s ambassador to Britain warned what might happen if Brexit took an unfavorable turn for foreign investors.
The British Chambers of Commerce has warned that the preparations by its members so far only represented the “tip of the iceberg”.
The sector issues a final plea for a no-deal Brexit to be avoided at all costs, saying the prospect is already hitting jobs.
Britain’s biggest carmaker, Jaguar Land Rover, will halt production at its British factories for a week in November, its boss said on Thursday, joining BMW and Toyota in plans to help mitigate any immediate disruption from a no-deal Brexit.
Japan's richest man has warned that Brexit is "practically impossible" and could take the United Kingdom back to the economic stagnation of the 1970s when the country was often described as the "sick man of Europe."
A major carmaker has said it will shut down its Derbyshire plant for 24 hours the day after Brexit. / Toyota confirmed it would halt production at Burnaston for a day after the 31 October deadline to "assess and react".
Hostile immigration policies will do untold damage to the UK’s manufacturing industry. It is baffling that the government is willing to implement such a strategy, says Lord Bilimoria.
A no-deal Brexit would cost Japanese carmakers in Britain more than $1bn a year if 10% tariffs were imposed on trade between the UK and EU, new analysis suggests.
Firms including BMW and Toyota warn of potential UK job losses and plant closures.
Car giants Toyota and BMW have both warned a no-deal Brexit threatens the production of their cars in the UK.
Dozens of companies have cut jobs, beefed up their European operations or issued warnings on the impact of the UK's departure from the EU.
‘We cannot avoid negative impact no matter how much we prepare beforehand if Britain leaves EU with no deal,’ senior managing officer Masayoshi Shirayanagi says.
Alarm raised after Nissan decision to halt expansion of Sunderland car plant.