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Toyota to invest £240m in UK operations Toyota to invest £240m in UK plant at Burnaston
(35 minutes later)
Japanese carmaker Toyota is to invest almost a quarter of a billion pounds in its UK operations. Toyota is to invest £240m in upgrading its UK factory that makes the Auris and Avensis models.
Toyota says it will invest £240m to upgrade the Burnaston plant near Derby to enable production of vehicles using its new global manufacturing system. The Japanese carmaker's investment in the Burnaston plant near Derby will allow production of vehicles using its new global manufacturing system.
The carmaker says the investment will improve the plant's competitiveness and promote UK supply chain efficiencies. The factory employs about 2,500 people, while another 590 work at Toyota's engine plant at Deeside, North Wales.
Toyota has been making cars in the UK since 1992. The Burnaston plant makes the Auris and the Avensis models. Burnaston made about 180,000 vehicles last year, most of which are exported to Europe and other markets.
Last year, the plant manufactured around 180,000 vehicles. Most are exported to the EU and elsewhere in the world. Johan van Zyl, chief executive of Toyota Motor Europe, said the investment showed that the company was doing all it could to make Burnaston more competitive.
The Burnaston plant, together with Toyota's engine plant at Deeside in North Wales, employ about 3,400 workers. However, he warned: "Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success."
The government is also providing £21.3m in funding for training, research and development and enhancements of the plants environmental performance. Industry trade body the SMMT said in January that uncertainty around Brexit and the UK's future trading arrangements had hit investment in the car sector.
In January, the UK car industry trade body, the SMMT, indicated that uncertainty around Brexit and the UK's future trading arrangements had hit investment in the sector. Investment commitments in the UK automotive sector last year totalled £1.66bn, down from £2.5bn in 2015.
It said that total committed investment announcements in the automotive sector in 2016 were approximately £1.66bn across a number of companies. This figure was down from £2.5bn in 2015. The government is providing £21.3m in funding for training, research and development and improving the Burnaston plant's environmental performance.
Business Secretary Greg Clark said the investment "underlines the company's faith in its employees and will help ensure the plant is well positioned for future Toyota models to be made in the UK".
Toyota has been making cars in the UK since 1992.