LONDON, March 16 Japanese carmaker Toyota
said it will invest 240 million pounds ($294 million)
in its British car plant to allow it to build vehicles on a new
platform, helping to boost competitiveness and promote the use
of locally-built components.
But the firm, which currently its Auris hatchback and family
Avensis car at its Burnaston plant in the north of England,
warned that continued tariff-free access to the European single
market remained crucial as Britain leaves the EU.
"Our investment demonstrates that, as a company, we are
doing all we can to raise the competitiveness of our Burnaston
plant in Derbyshire," President and CEO of Toyota Motor Europe
Dr Johan van Zyl said.
"Continued tariff-and-barrier free market access between the
UK and Europe that is predictable and uncomplicated will be
vital for future success."
($1 = 0.8164 pounds)
(Reporting by Costas Pitas, Editing by Paul Sandle)