FIRST AIRED: October 28, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Business

Nissan commits to UK after Brexit wobble

Opening sequence

Opening sequence

Business

Nissan commits to UK after Brexit wobble

0:00
16:58
More Info

COMING UP:Nissan commits to UK after Brexit wobble

×

Transcript

00:00:01
>> After a Brexit wobble, Nissan is committing to the UK. The Japanese firm saying it will build the next generation of its popular Qashqai model in the country. That safeguards around 7,500 jobs at its factory in Sunderland, Northern England. Reuters UK correspondent Costas Pitas, says the firm struck a deal with ministers.
00:00:20
>> What we've heard from a source is that there is written assurance that if Britain's Brexit deal, when that comes two, two and a half years down the line, does result in things like tariffs, there will be some relief for Nissan.>> No surprise that the government was keen to keep Nissan in the UK, the Sunderland plant is the country's largest car factory.
00:00:41
The Nissan's rivals will want to know exactly what kind of deal has been struck.>> So Jaguar Land Rover, which is actually the biggest car builder in Britain, together with Nissan, the two build two-thirds of all of our cars. Well, they told Reuters in an interview earlier this month, the CEO, that if Nissan were to get a compensation deal, then it would want a fair, level playing field.
00:01:01
So opening up the possibility that it would also want the same guarantees.>> The news from Nissan comes the same day as much better than expected growth numbers from the UK. Together, the two stories have Brexit backers cock-a-hoop. The say proves that predictions of a post-Brexit downturn were nothing but scaremongering.