BREAKING NEWS

BREAKING NEWS

UK promised Nissan 80 million pounds of support for 2016 car investment - FT

UK promised Nissan 80 million pounds of support for 2016 car investment - FT
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PHIL NOBLE(Reuters)
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LONDON (Reuters) - Britain promised about 80 million pounds in support to Nissan in 2016 as part of a major investment by the Japanese carmaker in its British car plant just four months after the Brexit vote, the Financial Times reported on Monday.

In a letter from business minister Greg Clark to then Nissan boss Carlos Ghosn, the British government also promised to protect the car sector as Britain leaves the European Union.

"It will be a critical priority of our negotiations to support UK car manufacturers, and ensure their ability to export to and from the EU is not adversely affected by the UK’s future relationship with the EU," the letter read, according to the FT.

"In any circumstance, the government will ensure that the UK continues to be one of the most competitive locations for automotive and other advanced manufacturing within Europe and globally, including sites such as Sunderland."

(Reporting by Costas Pitas; editing by Guy Faulconbridge)

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