Nissan warns of risk to UK factory from Brussels boycott [Yahoo! Finance]
NISSAN MOTOR LTD S/ADR (NSANY)
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nissan-global.com/en/ir
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Source: Yahoo! Finance
Ministers are holding urgent talks with carmakers after the owner of Britain's biggest vehicle plant Nissan warned an EU boycott threatened its future. The car giant, which employs 6,000 workers in Sunderland, has reportedly warned the Government that new “made in Europe” rules proposed by Brussels pose an “existential” risk to its operations. The EU scheme is expected to treat most UK-made goods imported into the trading bloc as EU-equivalent – but British carmakers will largely be excluded amid a French-led effort to lock them out of the system. Such a move would threaten to make them uncompetitive on the Continent, which is a major export market for UK automotive manufacturers. A senior car industry insider warned that corporate fleet purchases – which alone account for three fifths of EU new car sales – would only qualify for subsidies if the vehicles are assembled in the bloc. That is a potentially major problem for Nissan's plant in Sunderland, where the vast majority
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