According to a government source, a few weeks ago, Britain Prime Minister and Business Minister, Theresa May and Greg Clark respectively, met the patriarch of the Indian Tata family, Ratan Tata amid the warnings of its car brand Jaguar Land Rover about the consequences of Brexit and diesel policy.
Having invested billions of pounds into the ailing Jaguar Land Rover after buying it, Tata made it Britain’s biggest automotive company manufacturing almost one of three cars made in the country. Tata’s other businesses cover manufacturing, defence, aerospace, services and steel operations.
However, having witnessed a hit in its sales, a crackdown on diesel in Europe and deteriorating performance in China, its major market; the company has decided to cut its output.
According to Chief Executive Ralf Speth, a bad deal in Brexit could cost roughly 1.2 billion pounds per annum. He further said that he is unsure whether his plants will operate after Brexit.
An immediate response from a Tata spokewoman could not be managed.