Toyota Investment in Burnaston Secured by Government Reassurances

A car is assembled at the Toyota plant in Burnaston, England.

Costas Pitas for Reuters reports that Toyota received reassurances from the government, similar to those received by Nissan, prior to announcing its latest £240 million investment in its Burnaston plant.

An anonymous source reported that Toyota received a letter, confirmed to exist by the business ministry, that included several assurances of government assistance in the event of a hard Brexit that disrupts the UK’s trading of vehicles with the EU.

According to the source, Toyota received “a similar set of warm words as Nissan on electric vehicles, commitment to further training and to ensure the competitiveness of the UK automotive industry.”

In its March 2017 announcement of the investment, Toyota stated that the government had promised to provide funds for training and for R&D. According to the government, it has committed to spending £21.3 million to support these initiatives.

Source: Exclusive: Toyota made UK investment decision after Brexit reassurances – sources