The people of Great Britain have put their vote out and it is now official that the country will be the making an exit from the European Union. Commenting on Brexit being official, Tata Motors’ luxury arm Jaguar Land Rover (JLR) said in a statement that the company will remain committed to all its business operations in Britain.
Jaguar Land Rover said it was business as usual for the company today and it will manage the long-term impact and implications of the decision. A JLR spokesperson said in a statement, “For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions.”
JLR said in a statement that it is committed to its customers in the European Union
Adding further, the JLR spokesperson said, “Europe is a key strategic market for our business. We remain absolutely committed to our customers in the EU. There will be a significant negotiating period and we look forward to understanding more about that as details emerge.” Britain currently accounts for 20 per cent of Jaguar Land Rover’s sales globally, not to forget the fact a host of its products are manufactured and exported from the home country.
Considering things won’t change overnight, Jaguar Land Rover is confident that it will have enough time to work around its way. The company further stated that it is working closely with the British government and automotive sector to ensure the UK’s industry remains as competitive as ever.
Earlier today, Britain voted to leave the 28-nation European Union bloc after 43 years in a referendum. The results showed a near 52-48 per cent split for leaving. With Brexit now a reality, this has changed the dynamics of business and trade globally and will also affect the auto manufacturers with origins in Britain.