Toyota is set to invest £240 million into its Derbyshire plant, however in doing so, Toyota boss makes it clear that he wishes for a continued tariff-free trade within the EU single market.
The investment is sure to rejuvenate the Derbyshire plant, and aims to upgrade its manufacturing equipment, technology and IT systems. However, Johan van Zyl, the president and chief executive of Toyota Motor Europe warned that a ‘continued tariff and barrier-free market access between the UK and Europe’ is essential in order to maintain the company’s success rates.
Zyl explained how the investment into its UK plant was representative of its hope and trust within the UK and EU market, describing it as a ‘sign of confidence’ in both its suppliers and employees.
This news comes at a time where tensions are on the increase surrounding the current and future state of the automotive industry in light of Brexit. Indeed, Zyl stated that:
‘We are very focused on securing the global competitiveness of our European plants. The roll-out of TNGA manufacturing capability is part of this plan.
‘This upgrade of Toyota Motor UK is a sign of confidence in our employees and suppliers and their focus on superior quality and greater efficiency. We welcome the UK government funding contribution for this activity.’
Zyl continued to report:
‘Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire.’
It appears as though amidst the confusion surrounding the future economic impact that Brexit may or may not have on the UK automotive sector, there are attempts from major automotive companies to continue to support automotive ventures throughout the country. Toyota’s investment is just one example of continual investment into the UK sector in light of the Brexit decision.
Greg Clark, the secretary of Business and energy commented on the recent investment, stating that: ‘Our automotive sector is one of the most productive in the world and Toyota’s decision to invest £240 million upgrading its Burnaston plant is a further boost to the UK auto sector…I also welcome the prospect of investment to take Toyota New Global Architecture into the supply chain.’
‘Toyota is one of the world’s largest car producers and this inward investment underlines the company’s faith in its employees and will help ensure the plant is well positioned for future Toyota models to be made in the UK.’