Japanese Auto Maker Nissan to Invest s £400m in UK car plant
Japanese Auto Maker Nissan announced to invest a hefty amount of money in opening new plant in United Kingdom despite of Brexit warnings.
As per details, Japanese Auto Maker Nissan is investing £400 million (€462 million) in its Sunderland car plant.
This investment is in preparation to build future models at the site.
However the company’s warnings that tariffs after Brexit will endanger the facility’s exports.
Nissan unveiled a new £52m press line, which it has installed ahead of building a new version of the Qashqai.
Despite pledging in late 2016 to make the next Qashqai model in the UK, the company never before detailed its investments.
Moreover the production expected to begin at the end of this year.
The majority of the £400m investment, supported by an £11m government grant, already spent, people familiar with the situation say.
Installation of the press line began 18 months ago.
Nissan’s investment confirmation is a benefit for struggling UK car industry,
The industry suffered a steep fall in spending and a spate of plant closures in the years since the vote to leave the EU took place in 2016.
Ford has closed its Bridgend engine facility and Honda announced the closure of its Swindon site, while Nissan has axed plans for another future model – the X-Trail – from the Sunderland facility.
New car production in the UK last year fell to the lowest level in almost a decade, falling 14 per cent to 1.3 millions.
Electric vehicles must be made tax-free
Earlier Society of Motor Manufacturers and Traders of UK urged that electric vehicles must made tax-free to boost sales, as demand for new cars fell by 2.9% last month.
Some 79,594 new cars registered in February compared with 81,969 during the same month in 2019, according to the Society of Motor Manufacturers and Traders (SMMT).
The trade association blamed weak consumer confidence and confusion over what fuel technology to buy.
It called for the Chancellor to use next week’s Budget to remove VAT from all new battery electric, plug-in hybrid electric and hydrogen fuel cell electric cars.
Such a move could cut the purchase price of an average family battery-powered runaround by around £5,600.
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