This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-50000530
The article has changed 8 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| No-deal Brexit 'to jeopardise' Nissan Europe arm | No-deal Brexit 'to jeopardise' Nissan Europe arm |
| (30 minutes later) | |
| Japanese carmaker Nissan has warned that a no-deal Brexit would make its European business model unsustainable. | Japanese carmaker Nissan has warned that a no-deal Brexit would make its European business model unsustainable. |
| The firm's chairman, Gianluca de Ficchy, said if a 10% export tariff was introduced after the UK left the EU it would put its operations "in jeopardy". | |
| This would be case if the UK moved to World Trade Organization (WTO) after Brexit, he said. | This would be case if the UK moved to World Trade Organization (WTO) after Brexit, he said. |
| He was speaking at Nissan's plant in Sunderland, where work on a new model of the Juke is due to start. | He was speaking at Nissan's plant in Sunderland, where work on a new model of the Juke is due to start. |
| The Japanese firm said it had invested £100m in the plant, which also makes the Qashqai and electric Leaf models. | The Japanese firm said it had invested £100m in the plant, which also makes the Qashqai and electric Leaf models. |
| Mr de Ficchy said Nissan still intended to build in Sunderland, the UK's biggest car plant, but that it was difficult to plan for the future amid Brexit uncertainty. | Mr de Ficchy said Nissan still intended to build in Sunderland, the UK's biggest car plant, but that it was difficult to plan for the future amid Brexit uncertainty. |
| The new Juke has been designed and manufactured in the UK, aimed specifically at European markets, with two-thirds of its components coming from the EU and 70% of production destined for the continent. | The new Juke has been designed and manufactured in the UK, aimed specifically at European markets, with two-thirds of its components coming from the EU and 70% of production destined for the continent. |
| "If a no-deal scenario means the sudden application of WTO tariffs, we know in that case our business model won't be sustainable in the future," said Mr de Ficchy. | "If a no-deal scenario means the sudden application of WTO tariffs, we know in that case our business model won't be sustainable in the future," said Mr de Ficchy. |
| "Our industry works with lower margins and if we are in a situation in which tomorrow we have to apply 10% export duties to 70% of our production, the entire business model for Nissan Europe will be in jeopardy. | "Our industry works with lower margins and if we are in a situation in which tomorrow we have to apply 10% export duties to 70% of our production, the entire business model for Nissan Europe will be in jeopardy. |
| "That's the reason why we continue to work with all scenarios." | "That's the reason why we continue to work with all scenarios." |
| 'Not sustainable' | |
| The car industry is the UK's biggest exporter of goods and eight out of every 10 cars built in the UK are exported, | |
| Mr de Ficchy said WTO tariffs would "represent a significant increase on our vehicles that will have to face the competition in Europe and they won't be affordable." | |
| He said the business was asking for tariffs not be imposed if there is a no-deal Brexit. | |
| "We are asking not to have tariffs being applied in a no-deal scenario because otherwise the tariffs won't be sustainable for us," he said. | |
| On Wednesday, union leaders revealed night shifts at Sunderland would end - but Mr Ficchy said this was not the result of Brexit. |