Toyota chairman reflects on ‘hard Brexit’ plan at Davos summit

Takeshi Uchiyamada, the chairman of Japanese manufacturer Toyota has questioned the post EU profitability of its operations in the UK following Theresa May’s Brexit ‘plan’ speech on Wednesday.

Speaking at the World Economic Forum, Uchiyamada told the Financial Times that its UK plants would need to become more competitive if the Prime Minister’s hard Brexit plan is followed through.

“We have seen the direction of the prime minister of the UK. We are now going to consider, together with the suppliers, how our company can survive" he said.

Theresa May warned that Britain would walk away from a trade deal with the EU altogether if it is not offered favourable terms.

Toyota currently employs approximately 3500 workers at its plants in Burnaston and Deeside plants. Responding to the Prime Minister’s apparent commitment to press ahead with a ‘hard’ Brexit, Uchiyamada said:

"I won’t say that there is no impact to the company."