LANDSHUT, Germany BMW (BMWG.DE) board member Oliver Zipse on Thursday said there is no need to decide yet whether the Brexit vote is a reason to shift manufacturing of its Mini brand away from Oxford to other locations in Europe. Britain's vote in June to leave the European Union has raised doubts on whether it can keep tariff free access to the European common market, prompting various carmakers with factories in the United Kingdom to review their production plans.BMW Group, which manufactures the Mini in the Netherlands, Austria and the United Kingdom, is not currently under pressure to make any changes or decide about further investments in its assembly line in Oxford, Zipse said on Thursday. "The Mini has been launched not too long ago, now is not the time to make this decision," Zipse, BMW Group's board member responsible for manufacturing, told Reuters on the sidelines of an event held in Landshut, Germany.
"When the time comes when we have to do the next bigger investment, we will have to look at the situation," Zipse said.
Asked whether BMW could shift more production of the Mini to the Netherlands, Zipse said, "We have possibilities, but currently we don't have to." Earlier on Thursday, Reuters reported that Japanese carmaker Nissan (7201.T) will continue to build two new models at Britain's largest car plant, despite the vote to quit the EU.
(Reporting by Edward Taylor; Editing by Ruth Pitchford)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Your guide to the latest election news, analysis, commentary, live updates and schedule for Lok Sabha Elections 2019 on firstpost.com/elections. Follow us on Twitter and Instagram or like our Facebook page for updates from all 543 constituencies for the upcoming general elections.
Updated Date: Oct 28, 2016 00:30:08 IST