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FX.co ★ Nissan boosts investments in its UK-based plant

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Forex Humor:::2016-11-02T11:35:00

Nissan boosts investments in its UK-based plant

The UK government pledged Japanese automobile manufacturer Nissan to seek tariff-free EU deal for carmakers over the course of the negotiations with 27 EU states.

According to UK business secretary Greg Clark, these guarantees convinced Nissan to increase its investments in Britain’s car manufacturing industry, thus saving thousands of jobs.

In an interview to BBC, Clark said that seeking the goal of tariff-free access to the EU single market without bureaucratic obstacles during official negotiations on leaving the EU persuaded Nissan to continue to build the next Qashqai and X-Trail models at its Sunderland factory.

According to opposition politicians from the Labour Party, Nissan has been told more about Brexit strategy than members of the parliament. The politicians said they intended to urge ministers to reveal what they expect from the Brexit negotiations.

Last week, Nissan announced major investment in its Sunderland factory. The Japanese manufacturer is the first company to announce expansion of investment in its UK business following the EU referendum.

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