Toyota will produce new Suzuki hybrid cars in the UK’s Derbyshire manufacturing plant, which employs around 2,600 people and built roughly 129,000 cars last year and is expected to increase.
Toyota and other car manufacturers have been worried about the externalities due to Brexit issues, costly trade tariffs, and border checks that impedes competitive global trade.
The Suzuki and Toyota partnership is good news to the UK, which has seen many of their car manufacturing plants move work abroad due to tightening trade restrictions.
Although gas and diesel engines have been on the decline, hybrid and electric cars are on the rise, and there’s potential for additional car models to be manufactured if all goes well.
Cars sold from the UK after Brexit will incur a 10% tax unless new trading terms are agreed upon, while it’s expected that imports from Japan to the EU will have zero tariffs.
Author: Adam Sarwar