Honda confirms UK plant closure

Tuesday, 19 February 2019 15:23

Japanese carmaker Honda's confirmed it's closing a major plant in Swindon in England, with the loss of around 3,500 jobs.

Honda says it's due to "unprecedented changes" for the industry, and a need to speed up its "electrification strategy".

But the move comes with the UK yet to agree a Brexit deal, despite its exit from the European Union due to take place on March 29.

And it follows a decision by fellow Japanese carmaker Nissan to make its new X-Trail SUV in Japan, not the UK.

Reporter Adam Hurd is at the Honda factory in Swindon:

More from Business

ADNOC Distribution reports $579 million net profit in first 9 months

ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group’s 9-month shows 20% revenue growth

TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
DFM reports 212% increase in net profit before tax to AED930.8 million

The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC unveils plans for new financial centre

DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
UAE cuts key interest rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.