10 July 2020 #SMMT News Following the SMMT-JAMA joint statement on the UK and Japanese governments starting to negotiate a UK-Japan Free Trade Agreement, both organisations have today published a joint position paper on the UK and Japan trade talks currently underway. SMMT and JAMA are in agreement that the conclusion of a new Japan-UK… Continue reading SMMT AND JAMA publish joint position paper on UK/Japan trade negotiations
Tag: Brexit
Ineos 4×4 vehicle plant ‘suspended’ in Wales
Plans to build a new 4×4 vehicle plant in Wales have been put on hold by the firm Ineos. The company said it follows talks with Mercedes-Benz over the acquiring of their Hambach site in Moselle, France. The Wales plant would have been built next to the current Ford engine plant at Bridgend, which is… Continue reading Ineos 4×4 vehicle plant ‘suspended’ in Wales
Indian automakers cut investments in loss-making EV subsidiaries
The ongoing industry crisis arising out of the Covid-19-driven lockdowns, other strategic and geo-political factors are compelling some leading Indian automotive companies to write off investments in their ailing foreign subsidiaries, particularly in the electric vehicle (EV) space. Bharat Forge plugs out of Tevva Motors, re-aligns TorkPune-based Bharat Forge is the latest automotive company to… Continue reading Indian automakers cut investments in loss-making EV subsidiaries
UK govt, India’s Bharti win auction for satellite firm OneWeb
Britain has joined forces with India’s Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging $1 billion between them to develop a constellation that could boost broadband and other services. Under the deal announced on Friday, Britain will invest $500 million and hold a stake of around 45% in OneWeb… Continue reading UK govt, India’s Bharti win auction for satellite firm OneWeb
UK Auto calls for restart support as Covid crisis threatens one in six jobs
UK auto industry calls for dedicated restart package to save jobs and pave the way for recovery. New SMMT survey reveals a third of workforce still on furlough with up to one in six jobs at risk. ‘Turbocharged’ Brexit negotiations needed to deliver a comprehensive zero-tariff FTA – crucial to avoiding crippling £40bn production losses… Continue reading UK Auto calls for restart support as Covid crisis threatens one in six jobs
EU wants new deal with Brexit Britain, but "not at any cost"
EU chiefs Charles Michel and Ursula von der Leyen briefed the 27 national leaders on Friday on the latest talks with Britain, which have made precious little progress since London left the bloc in January, and now face an end-year deadline. BRUSSELS: The European Union is committed to reaching an agreement with Britain on their… Continue reading EU wants new deal with Brexit Britain, but "not at any cost"
UK says EU trade deal will be difficult if no progress before October
Britain left the EU on Jan. 31 but talks have so far made little headway on agreeing a new trade deal with the bloc by the time a status-quo transition arrangement ends in December. LONDON: Britain warned the European Union on Thursday that it would be difficult to conclude a Brexit free trade deal by… Continue reading UK says EU trade deal will be difficult if no progress before October
Bentley to cut nearly a quarter of its workforce
Automotive industry Carmaker hopes to cut 1,000 jobs through voluntary redundancies but warns no-deal Brexit will deepen coronavirus impact The luxury carmaker warned it could not rule out future compulsory redundancies, as the pandemic reduces demand for cars. Photograph: John Sibley/Reuters Bentley has confirmed it is seeking to make 1,000 job cuts through a voluntary… Continue reading Bentley to cut nearly a quarter of its workforce
Bentley to cut quarter of workforce as UK car sector job losses hit 5,000
Chief executive says ‘uncontrolled’ Brexit risks ‘compounding the coronavirus disaster’ Go to Source
Coronavirus: Lookers and Aston Martin cut 2,000 car jobs
Car dealership Lookers has announced it will cut up to 1,500 jobs with the closure of more showrooms in the UK. The company reopened its showrooms on Monday after the government lifted coronavirus lockdown restrictions. Luxury carmaker Aston Martin also announced 500 redundancies, a week after naming a new chief executive. It comes as the… Continue reading Coronavirus: Lookers and Aston Martin cut 2,000 car jobs