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Ford Warns of Investment Risk if U.K. Leaves the EU
A British vote on June 23 to leave the European Union would could harm the kingdom’s business environment and discourage foreign investment, warns Ford of Europe CEO Jim Farley.
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A British vote on June 23 to leave the European Union would could harm the kingdom’s business environment and discourage foreign investment, warns Ford of Europe CEO Jim Farley.
Farley tells Reuters that Ford would prefer to expand its business in the U.K., already the company's largest national market in Europe. But he cautions that a decision to exit the EU could create economic instability and uncertainty in Great Britain.
Ford currently operates three powertrain factories and a tech center in England. Ford Credit Europe, which offers financing for dealers and customers in 15 countries, also is headquartered there. Farley notes that FCE would be heavily impacted by a U.K. exit, because it must operate among EU members under a "passporting" arrangement.
Ford has sent letters to its 14,000 employees in the U.K. indicating its view that remaining in the EU would be better for the country.
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