BMW To Wait For Brexit Outcome Before Deciding What To Do With Mini Factory

BMW’s boss Harald Krueger said that the company is not under any

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by Michael Karkafiris

November 4, 2016 at 21:02

BMW’s boss Harald Krueger said that the company is not under any sort of pressure to decide about further investing in the Mini factory in Oxford until the UK government has finalized the negotiations about exiting the European Union.

“At BMW Group decisions about investments are not due at the moment. This is why we can await the outcome of negotiations,” Harald Krueger told Reuters on a call to discuss third-quarter earnings.

BMW Group currently builds Minis in the UK, Netherlands and Austria, allowing them to shift production outside UK in the case of the EU imposing export tariffs.

Nissan asked the UK government for guarantees before agreeing to keep production in their Sunderland-based factory. When Krueger was asked whether they would too seek guarantees from the UK government, he said he was not familiar with the guarantees given to Nissan and reiterated that no decisions about investments are due in the short term.