Mar 26, 2017 10:50 PM EDT
Japanese automaker Toyota plans to invest £240 million in upgrading its car plant that makes the Auris and Aventis models. The company, however, will remain a tariff-free access to EU markets due to Brexit's crucial status.
Toyota will be investing in Burnaston plant near Derby that will allow the production of vehicles using its new global manufacturing system. The factory houses 2,500 people and another 590 people work at Toyota's engine plant in Deeside, North Wales. About 180,000 vehicles were made in Burnaston last year and most of which were exported to Europe and other markets.
Johan van Zyl, chief executive of Toyota Motor Europe, believes that the company is doing all that it could do to make Burnaston more competitive. It must be noted that only 41 percent of the parts in British-built cars are made within the country on average and this is less than the typical 50 to 55 percent local content requirement which Britain would agree to in some bilateral trade deals. He, however, warns that continued tariff-and-barrier free market access between UK and Europe will be significant for future success despite its predictability and simplicity.
Due to Brexit and UK's future trading arrangements, investment in the car sector has become difficult according to industry trade body the SMMT. Notably, investment in the UK automotive industry amounted to £1.66 billion, which is down from £2.5 billion in 2015. Business Secretary Greg Clark has said that Toyota's investment "underlines the company's faith in its employees and will help ensure the plant is well positioned for future Toyota models to be made in the UK".
Meanwhile, the government promises Toyota that it will provide £21.3 million in funding for training, research, and development, and improve the Burnaston plant's environmental performance. An industry correspondent notes that Toyota's decision to upgrade the plant suggest that the carmaker sees the UK as part of its long-term future. But it cannot be also denied that with Brexit coming, UK's automotive industry need to prepare well. That becomes a threat to the competitiveness of automakers that rely on just-in-time manufacturing, which Toyota pioneered.
And the world of NFTs expands far beyond art and collectibles. A new era of tokenized digital assets is being created using the blockchain. Here are seven unique NFT use cases that the interested investor should know.
However, there are some simple steps that anyone can take which will help to improve their performance when it comes to trading foreign exchange markets. Here are ten small things that can make a big difference in your FX trading success.
o prevent significant losses, risk management expertise is essential. His adage, "Rule No. 1: Never lose money," has become a stock market classic. Never forget Rule No. 1; this is Rule No. 2. This practice is followed by even the most successful investor, Warren Buffett, who advises others to follow suit.
One of the significant advancements is shifting the payment operations for remote workers. If the compliances are not met, it may lead to severe legal complications. The owner and organization may be held labially separately. The remote working lifestyle continuously grows and is a testament to becoming an endless working mode. Today we discuss components for payroll for remote workers
BRG International Founder Matias Alem had recognized this fact for a few years. So he remodeled his real estate brokerage into something completely new to solve the problem for his jet-setting international client base.
Ryan Early, hailed as 'Farmer Ryan' among sustainable agriculture experts, is a busy man. He has a laundry list of companies to his name, including Blue-Green Ventures, the company behind the revolutionary product, Blue MagicTM, a non-toxic and eco-sustainable pest preventative product using his patented BiomeMax TM Pheromonal Replication Technology.
Investor, financier, and expert in both cryptocurrencies and blockchain technology, Joy Mbanugo is the go-to in the sector. She has vast experience and knowledge across tax services, auditing, business operations, financial analysis, capital markets, and other specializations.
When Nick Collins was just 14 years old, he started his first business, which included around-the-clock phone calls and numerous questions from his parents. In fact, he began building his stout portfolio in the seventh grade by doing web design, incorporating creative content with brand strategies and plugging in a then-fledgling tech Flash.
Barry Gabster is the founder of InitiateU and is a leading proponent of the marketing mailer revolution, having already taken his company to 10x growth in 2021, alone. In fact, the exponential growth has seen the company rise from $800K-$8.5M just on word-of-mouth referrals.