Honda has agreed to promote its UK automobile plant to logistics big Panattoni, an organization spokesman stated.
The Japanese automaker builds a few tenth of the 1.5 million automobile output in Britain. It introduced its intention to stop manufacturing at its plant in Swindon in southern England two years in the past. The plant closure is predicted to result in 3,500 job losses.
Honda has stated the closure of the plant was not associated to Britain’s departure from the European Union nevertheless it wanted to focus actions in areas the place it expects to promote most automobiles.
The automaker has been struggling in Europe. Its gross sales within the EU, UK and EFTA markets fell 49 p.c to three,393 autos in February for a market share of 0.4 p.c, in accordance with data from trade affiliation ACEA.
Panattoni stated it was making a 700 million kilos ($965 million) funding in its logistics-related growth, with the purpose of making new jobs, as soon as Honda completes decommissioning of the plant that builds its Civic hatchbacks, doubtless subsequent spring, the Monetary Instances reported.
The most recent transfer adopted selections by electronics corporations Sony and Panasonic to maneuver their headquarters to the EU from Britain, whereas Hitachi has shelved a nuclear energy mission in Britain amid Brexit.