Ford is spending tens of millions of euros preparing for a possible British exit...
HALFWEG, Netherlands - Ford is spending tens of millions of euros preparing for a possible British exit from the European Union without a trade deal and has yet to decide on its longer-term plans for Britain, Ford Europe chairman Steven Armstrong said on Tuesday.
Ford, which makes 1.3 million engines at two British locations, Bridgend and Dagenham, and cars in Germany, has warned it could face $1 billion in tariff costs in case of a so-called hard Brexit. Britain’s departure from the EU has been pushed back from March 29 until at least April 12 or potentially much later, ruining some of the contingency plans of certain carmakers.
Ford’s British-built engines, which are shipped for fitting in vehicles in Germany, Turkey, the United States and elsewhere, could face delays and extra costs from a no-deal Brexit.
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