With the confirmation of the exit of Britain from the European Union by the people's vote, Tata Motors JLR said that it remains committed to all business operations in Britain.
Jaguar Land Rover said it continue to manage long-term impact of the outcome of the Brexit vote. A JLR spokesperson said in a statement, "For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions."
JLR said they are committed to customers in the European Union, the JLR spokesperson said, "Europe is a key strategic market for our business. We remain absolutely committed to our customers in the EU. There will be a significant negotiating period and we look forward to understanding more about that as details emerge."
Britain holds nearly 20 percent of sales for the JLR globally and most of the products manufactured and exported comes from its home country. They said that they are working with the British government to ensure the automotive sector remains robust and competitive.
Today, Britain voted itself out from the European Union with results showing nearly 52 percent favoring the exit from EU, even if it was more or less a split in the final outcome. This could impact the automotive sector as it depends on components manufactured outside of Britain and tariffs could change and eventually the final cost of the vehicle.
Tata Motors 90 percent of profits come from Jaguar Land Rover and Brexit could slightly impact the business in terms of cost.