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Ford Warns that a Hard Brexit Would Be “Catastrophic”
Ford Motor Co. warns it will take whatever action is needed to defend its operations in Europe if the U.K. leaves the European Union in March with no replacement trade deals in place.
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Ford Motor Co. warns it will take whatever action is needed to defend its operations in Europe if the U.K. leaves the European Union in March with no replacement trade deals in place.
The company declares that a no-deal Brexit would be “catastrophic” for the British auto industry and Ford’s enginemaking operations in England. A local media report says the company warned Prime Minister Theresa May that it has accelerated steps to relocate production outside the U.K.
Ford no longer assembles vehicles in England. But most of its 13,000 employees there build engines and transmissions for export, mainly to facilities in the EU.
Like other auto industry members, the company has repeatedly warned that a “hard” Brexit that results in import and export tariffs on vehicles and components could spark the demise of the British auto industry.
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