Citizens of the EU are asking for better conditions and longer contracts to move to Britain, and there is a limited number of new international suppliers that are willing to work in the country, said the boss of Jaguar Land Rover, the biggest carmaker in Britain.
“Inward investment takes longer or is reduced so the number of suppliers that we can convince to come to the UK is really more or less limited now,” Ralf Speth, the chief executive, said during an interview on Thursday.
“People who come to the UK want to have special conditions because they don’t know whether they have to leave and therefore they expect special contracts… You want to have a longer contract and better conditions at the end of the day just to be convinced.”
However, Speth noted that he believed that the European Union and Britain would come to a common sense agreement since politicians are ultimately held responsible to “their constituencies, their region, their nation”.
He said: “I believe in this kind of real common sense… and not just all of a sudden fall back into the Middle Ages where everybody fights against each other.”
On Thursday, the company unveiled plans to offer an electric or hybrid option for all its new vehicles from 2020. Speth revealed that the firm would produce greener models in its home market, but refused to say when.
When Speth was asked whether the long-term future of Jaguar Land Rover was best served within Tata Motors, its parent company, following speculation from the media that the firm might be studying the possibility of an initial public offering, Speth responded: “Yes.”
“I really appreciate having this kind of parent,” said Speth. “Tata sees it really as a long-term investment and to be private up to a certain degree.”