UK govt gives Toyota assurance to bag £240m investment

London

THE British government helped to secure a more than £240 million (S$429 million) investment from Toyota in its English plant with a letter reassuring the Japanese carmaker over post-Brexit trading arrangements, two sources told Reuters.

Toyota said on March 16 it would install its new car platform at its Burnaston plant. One source, who is familiar with the letter, said that Toyota delayed the decision due by the end of December while it weighed up a number of factors including Brexit.