LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Jaguar Land Rover warns Brexit deterring suppliers, EU workers

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Sep 07, 2017
07:53 pm
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Britain`s biggest carmaker Jaguar Land Rover has said it is starting to feel the first effects of Brexit, with EU citizens demanding improved contracts and international suppliers less willing to commit to the country.

Britain`s thriving car industry had warned ahead of last year`s EU referendum that supply chains could be crippled and its momentum halted if it lost free and unfettered access to the European Union.

On Thursday, Jaguar Land Rover (JLR) Chief Executive Ralf Speth told Reuters that some of those fears were being realised after the June 2016 vote.

"Inward investment takes longer or is reduced, so the number of suppliers that we can convince to come to the UK is really more or less limited now," Speth said in an interview.

Speth, who was himself born in Germany, said recruitment was also becoming more complex.

"People who come to the UK want to have special conditions because they don`t know whether they have to leave and therefore they expect special contracts... You want to have a longer contract and better conditions at the end of the day just to be convinced."

Like much of the British car industry, Indian-owned JLR faces the prospect of tariffs of up to 10 percent on its exports if Britain fails to secure a good Brexit deal, jeopardising the viability of production in Britain.

But Speth said he believed London and Brussels would achieve a common sense divorce settlement because politicians are ultimately responsible to "their constituencies, their region, their nation".

"I believe in this kind of real common sense... and not just all of a sudden fall back into the Middle Ages where everybody fights against each other," he said.SHADES OF GREEN

As part of expansion plans, JLR said on Thursday that it would offer an electric or hybrid option for all its new vehicles from 2020, as the industry races to compete with rivals such as Tesla and respond to new bans and levies coming into force in several countries.

Speth said the firm would build greener models in its home market, but declined to say when, with better infrastructure and support from government needed. Its first electric model, the I-PACE, will be built in Austria.

Germany`s BMW also set out plans on Thursday for mass production of electric cars.

Responding to industry calls for greater support in developing new technologies, Britain said on Thursday it would develop two bases to focus on connected and autonomous vehicles, including one near JLR`s base in Coventry, as part of a 100-million pound ($131 million) investment programme.

JLR, which spent years in the doldrums before being bought by India`s Tata in 2008, has boosted volumes and unveiled a new line-up in recent years, prompting media speculation that it might look at an initial public offering.

Asked on Thursday whether Jaguar Land Rover`s long-term future was best served within parent company Tata Motors, Speth said: "Yes."

"I really appreciate having this kind of parent," he said. "Tata sees it really as a long-term investment and to be private up to a certain degree."

($1 = 0.7640 pounds)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Check Modi government's latest notices to Chinese apps including Tiktok, PUBG mobile game

Budget 2021 Expectations LIVE: Here is what India wants - Check latest news, updates, demands here

Rs 5, 10 and 100 news: Will old notes be valid after March 2021? Here is truth from Modi government

Stock market: Record-shattering gains, 50k BSE peak - What lies ahead? Analysts predict these big things amid Budget 2021

UPSC Recruitment 2020: Result for these written examinations declared - Check full list of roll numbers

Budget 2021: Unprecedented! 1st time ever since 1947, this is going to happen in Union Budget 2021-2022

Policy proposal for employment generation, scale-up in MSME sector

Recovery of excess pension made to pensioners: Big decision! Important notification by RBI

Nearly Rs 10 lakh fine on wedding organiser for breaching Covid-19 lockdown; many guests left as police arrived

Bullet Train: Undersea tunnel! Here is latest news update on Mumbai-Ahmedabad High Speed Rail

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved