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Jaguar issues warning on Brexit ahead of key meeting

2018-07-05 13:57

Image: Jaguar

Jaguar Land Rover has issued a stark warning on Brexit, saying it will reconsider £80-billion ($106-billion) of investment in the UK if the government fails to negotiate a deal that protects free trade with the European Union.

The comments, which follow similar warnings from BMW and Airbus, come before a meeting Friday where Cabinet ministers will try to hammer out a unified position on the UK's future relationship with the EU after months of squabbling.

READ: Hard Brexit 'could cost 14 000 jobs' at German car suppliers

The government is divided between ministers who want to maintain close ties with the EU and those who want a clean break.

CEO Ralf Speth says Jaguar faces an "unpredictable future if the Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market."

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