Dec 7, 2020
Brexit: Toyota says no-deal outcome will be 'very negative'
The boss of Toyota's European business has warned that a no-deal Brexit could make its UK plants uncompetitive. Dr Johan van Zyl said such an outcome would create a "Very negative investment environment" in Britain and be "Very, very negative" for his business. "So it can be very, very negative for our business if we have a no-deal scenario. Very negative. And even if there is a deal, we need to know the content of the deal. We need to get those details to really be able to establish what is the real impact. We haven't seen those yet". "We have always said that if, for instance Brexit, is very negative, it will be a very negative investment environment, so we need first to see the outcome before we can judge what we are really going to do", he says. "If 90% of what you produce in the UK is exported to the EU, and you've got to do it at a duty, then you're not competitive. You will not be able to compete with plants in Europe. So it is a very difficult situation".
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