February 19, 2019 | Investopaper
Japanese carmaker Honda Motors announced that it is planning to close its Swindon car plant in the U.K. If the car plant is closed, it might affect the jobs of 3,500 people.
In a press conference held on Tuesday, CEO Takahiro Hachigo said “The company is not considering possibility of leaving the European market. The decision was part of a global restructuring plan. Honda will continue to base its European headquarters in the U.K.”Other official from Honda said to the BBC radio that the closure of Swindon car plant was not related to Brexit issue.
The Swindon factory builds the Honda Civic five-door hatchback and the CR-V crossover in order to sell in the U.S and Europe.
The officials of Bristish government have expressed their disappointment to closure of car plant in U.K.”This is a devastating decision for Swindon and the U.K. This is a commercial decision based on unprecedented changes in the global market.” Business Secretary Greg Clark said, according to Reuters.
Honda explained that the decision of plant closure was based on the ongoing changes in the global auto market.