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BREAKING NEWS

Ford told May it could move business overseas because of Brexit

Ford told May it could move business overseas because of Brexit
FILE PHOTO: Ford's stamping operations plant is seen in Dagenham, east London July 26, 2013. REUTERS/Olivia Harris -
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Olivia Harris(Reuters)
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LONDON (Reuters) - Ford Motor Co told British Prime Minister Theresa May during a conference call on Tuesday that it may have to move some production out of Britain because of Brexit, according to a source on the call.

Ford told May that it may have to use alternatives sites outside of Britain, said the source who spoke on condition of anonymity.

The Times newspaper earlier reported that Ford told May it was stepping up preparations to move production out of Britain.

Ford, which operates two engine plants in Britain, last month said that it faces a bill of up to $1 billion (£776 million) if Britain leaves the Europe Union without a deal.

Car makers and other manufacturers have warned about the toll a no-deal Brexit could impose, including higher tariffs, disruption to supply chains and threats to jobs. Britain is scheduled to leave the European Union on March 29.

Ford was not immediately available for comment.

(Reporting By Andrew MacAskill; editing by Guy Faulconbridge)

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