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1-min read

BMW Denies About Receiving Reassurances Over Post-Brexit Trade Arrangements

Earlier this month two sources told that the British government helped to secure a 240-million pound ($314 million) investment from Toyota.

Reuters

Updated:July 26, 2017, 9:17 AM IST
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BMW Denies About Receiving Reassurances Over Post-Brexit Trade Arrangements
BMW logo. Image used for representational purpose. (Photo: Reuters)
BMW did not receive any reassurances from the British government over post-Brexit trading arrangements as it made the decision to build its electric Mini at its Oxford plant, a spokesman said on Tuesday. On Tuesday the German carmaker said its plant in Oxford, England has been chosen as the location to produce an electric Mini in 2019, confirming an earlier Reuters report.

Earlier this month two sources told Reuters the British government helped to secure a 240-million pound ($314 million) investment from Toyota with a letter reassuring the Japanese carmaker over post-Brexit trading arrangements.

"BMW neither sought nor received any assurances around post-Brexit trading arrangements nor any subsidies," a spokesman at BMW said, adding that no letter was received. Britain's business minister Greg Clark welcomed the decision, saying it was a "vote of confidence" in government efforts to make Britain a go-to place for the next generation of vehicles.

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