Toyota to Upgrade U.K. Plant Amid Brexit Uncertainty
- Free market is “vital for future success,” Van Zyl says
- Most of the 180,000 autos made in Burnaston exported to Europe
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Toyota Motor Corp. plans to upgrade its U.K. carmaking plant in a sign that concerns about Brexit won’t derail its investments in the country for now.
The world’s second-biggest auto manufacturer will spend 240 million pounds ($294 million) to update equipment and technology at a factory in Burnaston, England to allow the production of models on its latest platform, Toyota said on Thursday. The U.K. government will supply as much as 21.3 million pounds of that for training, research and development, subject to due diligence, the carmaker said.