Toyota has warned that a UK exit (dubbed ‘Brexit’ – or British exit) from the EU would “create additional business challenges” and said that it believes continued British membership of the EU is “best for our operations and their long term competitiveness”.
Toyota’s statement on the UK’s EU membership follows the announcement of a national UK referendum on continued membership on June 23. Besides the ongoing political debate in Britain on the contentious issue, large-scale multi-national businesses have come under some pressure to say whether a possible UK exit from the regional bloc would impact their UK operations.
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Toyota’s statement was carefully worded to say that it doesn’t want to participate in the UK’s campaign. However, it also said that the company believes continued EU membership for the UK is best for its UK operations and their long-term competitiveness.
In its statement Toyota highlighted the importance of open and free access to the European market in its decision to set-up manufacturing operations in the UK in the early 1990s.
“We respect that the UK’s future relationship with the European Union is a matter for the British people to decide, and it is not our intention to participate in the campaign,” said Johan van Zyl, President and CEO of Toyota Motor Europe.
“We have carefully considered the implications for our manufacturing operations, should the UK leave the European Union. We are committed to our people and investments, so we are concerned that leaving would create additional business challenges. As a result we believe continued British membership of the EU is best for our operations and their long term competitiveness.”
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By GlobalDataUK Prime Minister David Cameron announced the June 23 national referendum on EU membership last weekend following negotiations with other EU member states for a ‘deal’ on special arrangements for the UK’s continued membership. With the deal done he said he would campaign for continued membership under the new UK arrangements, though some members of his government cabinet have said they will still campaign for the UK to leave the EU.
Eighteen months ago, Cameron told just-auto – at an event at which Ford announced more investment for its UK engine manufacturing operations – that he wanted the UK to stay inside a ‘reformed EU’ and stressed the importance of the single market and being part of the club that sets the rules.
“I think Britain is better off inside a reformed European Union,” he said. “At the heart of our arguments for being inside the European Union is access to the single market. And it’s not just access to the single market we want, it’s a say over the rules of the single market.”
See also: Nissan expresses ‘preference’ for UK to stay in EU
