According to business secretary Greg Clark, the UK car industry has been assured that the deal offered to Nissan – which would eliminate any tariffs imposed on the firmâs exports to Europe – will be offered to all car manufacturers.
Speaking on the BBCâs Andrew Marr Show, Clark commented: It is my job to provide the assurances to Nissan and others that Britain is going to continue to be a great place to invest. I was able to do that and this [Nissanâs continuing investment] was the result that we saw.
One of the assurances I was able to give is that our intention, our negotiating remit when it comes to the discussions with our European partners is to have a constructive and civilised dialogue to look for the common interest here.
The governmentâs promises, which were made last month to the UKâs biggest producer of cars, Nissan, prompted the company to carry on with investment at its Sunderland plant.
Nissan boss Carlos Ghosn had previously warned at the Paris motor show that a so-called âhard Brexitâ may result in the car giant reconsidering its future investment in Sunderland, stating: “If I need to make an investment in the next few months and I canât wait until the end of Brexit, then I have to make a deal with the UK government.
Our objective would be to ensure that we have a continued access to the markets in Europe and vice versa, without tariffs and without bureaucratic impediments. That is how we will approach the negotiations. It is important to manufacturing they get the minimum or no tariffs and no impediments.
In the wake of the UKâs vote to leave the European Union, there were fears that major automotive companies, such as Nissan and Vauxhall, would pull out of the UK. A number of manufacturers have already raised their prices since the vote because the value of the pound has fluctuated.