ANL 30.80 Increased By ▲ 0.12 (0.39%)
ASC 14.39 Decreased By ▼ -0.55 (-3.68%)
ASL 23.85 Decreased By ▼ -0.05 (-0.21%)
AVN 93.75 Increased By ▲ 1.75 (1.9%)
BOP 9.10 Decreased By ▼ -0.04 (-0.44%)
BYCO 9.88 Decreased By ▼ -0.37 (-3.61%)
DGKC 135.51 Decreased By ▼ -0.09 (-0.07%)
EPCL 52.15 Increased By ▲ 2.15 (4.3%)
FCCL 24.19 Decreased By ▼ -0.43 (-1.75%)
FFBL 24.00 Decreased By ▼ -0.25 (-1.03%)
FFL 15.12 Decreased By ▼ -0.48 (-3.08%)
HASCOL 10.72 Decreased By ▼ -0.02 (-0.19%)
HUBC 84.67 Decreased By ▼ -0.53 (-0.62%)
HUMNL 6.99 Decreased By ▼ -0.36 (-4.9%)
JSCL 24.50 Decreased By ▼ -0.35 (-1.41%)
KAPCO 36.70 Decreased By ▼ -1.15 (-3.04%)
KEL 4.10 Decreased By ▼ -0.05 (-1.2%)
LOTCHEM 14.46 Decreased By ▼ -0.32 (-2.17%)
MLCF 46.61 Increased By ▲ 0.01 (0.02%)
PAEL 37.20 Decreased By ▼ -1.05 (-2.75%)
PIBTL 11.62 Decreased By ▼ -0.18 (-1.53%)
POWER 10.30 Decreased By ▼ -0.20 (-1.9%)
PPL 89.99 Decreased By ▼ -0.56 (-0.62%)
PRL 25.46 Decreased By ▼ -0.64 (-2.45%)
PTC 8.79 Decreased By ▼ -0.16 (-1.79%)
SILK 1.44 Increased By ▲ 0.04 (2.86%)
SNGP 37.70 Decreased By ▼ -0.40 (-1.05%)
TRG 139.00 Decreased By ▼ -2.10 (-1.49%)
UNITY 29.62 Decreased By ▼ -1.88 (-5.97%)
WTL 1.53 Decreased By ▼ -0.04 (-2.55%)
BR100 4,889 Decreased By ▼ -46.84 (-0.95%)
BR30 25,170 Decreased By ▼ -233.56 (-0.92%)
KSE100 45,459 Decreased By ▼ -405.75 (-0.88%)
KSE30 18,985 Decreased By ▼ -187.9 (-0.98%)

LONDON: Japanese carmaker Nissan on Friday committed to its future in Britain, home to the group’s largest European factory, citing the country’s Brexit trade deal with the European Union.

Chief operating officer Ashwani Gupta said the recent agreement gave its Sunderland plant in northeast England a competitive advantage, dispelling long-running uncertainty over the facility.

“Brexit has brought the business continuity in the short term (and) protects... all of our models which we manufacture in Sunderland,” Gupta was quoted as saying by UK media.

Nissan had previously warned that a no-deal Brexit would threaten its Sunderland factory, which manufactures models including the Juke, Leaf and Qashqai.

However, Britain’s largely foreign-owned automotive sector was a big winner from the free trade Brexit agreement, which allows for smooth tariff-free trade with the continent.

Nissan’s Sunderland hub employs 6,000 workers, and produces 400,000 cars annually, mostly for export.

Gupta added that Nissan would switch battery production for its electric Leaf vehicles from Japan to Britain, to benefit from the zero tariffs.

UK electric car exports will however face tariffs from 2027 if they do not have a majority of components sourced from either Britain or the European Union.