Business

Official media statement by PB Balaji, CFO, Tata Motors Group addressing the Brexit concerns

“Jaguar Land Rover and Tata Motors have always maintained that the uncertainties from Brexit are avoidable and the business seeks clarity to ensure that industry takes timely and right decisions to manage the transition. Additionally, Jaguar Land Rover needs free and full access to the single market beyond transition to remain competitive which we also firmly believe is in the best long term interests of the United Kingdom.

The recent statement from JLR only reaffirms this position that a Brexit which increases bureaucracy, reduces productivity and competitiveness of the UK Industry is in no-one’s interest. As this worst case Brexit scenario is just one of the many possibilities, our plans which were shared at the JLR analyst meet in the UK did not factor them and we continue to stand by what was shared.

In the meanwhile, JLR will continue to work with government to secure the right free trade deal for the country, economy and industry.”

PB Balaji, CFO, Tata Motors Group.

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