[LONDON] Japanese carmaker Nissan said on Thursday a no-deal Brexit will have "serious implications" for British industry and urged Britain and the European Union to reach a deal on their future trading relationship.

"Today we are among those companies with major investments in the UK who are still waiting for clarity on what the future trading relationship between the UK and the EU will look like," Nissan said in a statement.

"As a sudden change from those rules to the rules of the WTO (world Trade Organization) will have serious implications for British industry, we urge UK and EU negotiators to work collaboratively towards an orderly balanced Brexit that will continue to encourage mutually beneficial trade."

Carmakers are worried that port and motorway hold-ups could slow the movement of components and finished models, crippling output and adding costs, if Britain fails to reach agreement with the European Union over its departure from the bloc on March 29.

REUTERS