Not so long ago, Nissan CEO Carlos Ghosn warned that the carmaker may reconsider its investments in the UK if the country decides to leave the European Union. Now, Ford Motor Company, another global carmaker, is issuing a similar caution to the UK. The U.S. automaker said that it would reassess all its plans in the country if it decided to exit the EU.
Ford of Europe CEO Stephen Odell said such a move would be catastrophic for British jobs and businesses. “It cannot make any sense,” Odell told The Telegraph. “I don’t want to threaten the British government, ‘If you do this there are consequences’ [but] I would strongly advise against leaving the EU for business purposes, and for employment purposes in the UK,” he added.
Odell pointed out that even if the UK was out of the European Union, it would still have to trade with the economic block, which means it would have to comply with EU regulations – however, as a non-member it would lose its ability to influence policies. “I understand the frustrations, but not to the point of cutting your nose off to spite your face,” Odell said.
Ford has a long-standing history in the UK, where it has operated factories since the late 1920s. However, as part of the restructuring of its European operations, the U.S. giant has closed the Southampton plant and sections of its Dagenham operations last year, marking the end of its vehicle assembly operations in the country and the loss of 1,400 jobs.
However, Ford still employs nearly 15,000 people in the UK at its engine manufacturing plants in Bridgend and Dagenham.
By Dan Mihalascu
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