Nissan to “re-evaluate” UK investment once Brexit terms known

Nissan’s CEO has said that it will “re-evaluate” its investment in the UK once the terms of Brexit are clear. This follows Theresa May’s announcement that Britain would leave the single market in favour of immigration control.

Nissan’s CEO Carlos Ghosn has said that the company would “re-evaluate the situation” once the terms of Brexit were known. He was speaking at the World Economic Forum in Davos.

“Obviously when the package comes, you are going to have to re-evaluate the situation, and say, okay, is the competitiveness of your plant preserved or not”

Carlos Ghosn, chief executive of Nissan

As reported in Politico, Ghosn also said that Nissan would need to make investment decisions in the next two to three years and that it would be better for them to know the results of Brexit sooner rather than later.

Chronicle Live reports that his comments are in line with Nissan’s European senior vice president who said that they wanted a “tariff-free environment for the automotive sector” and that they would need to “see what happens.”

After getting assurances from the government last year, Nissan committed to building its new Qashqai and X-Trail models in Sunderland. There was much speculation as to what assurances the government had given Nissan. We still don’t know.

However, that was back in October when the government’s position on the single market was still not known. Last week, Theresa May outlined her vision of a ‘global Britain’. It included a 12-point plan for Brexit and ruled out staying in the single market in favour of immigration control. She also said that Britain was prepared to walk away from negotiations with “no deal” rather than a “bad deal”.

The prime minister then took her message of a ‘global Britain’ to business leaders. This was earlier on in the World Economic Forum conference that Ghosn made his comments at.

Sounds to us like, he’s not as convinced by Theresa May’s ‘global Britain’ now it’s clear that the government are prioritising immigration control over the single market. And he’s not the only one as this report reveals in the Independent about how big banks have responded to a post-Brexit future.

Image: © AlexeyVeselykh / Shutterstock, Inc.
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