April 4, 2018 / 10:59 AM / 9 months ago

Brexit not a barrier to UK van investment: Peugeot CEO

REFILE - CLARIFYING CAPTION Carlos Tavares, Chief Executive Officer of Groupe PSA, poses with a Vauxhall Vivaro van on the production line at Vauxhall's Luton plant in Luton, Britain, April 4, 2018. REUTERS/Toby Melville

LUTON, England (Reuters) - Britain’s departure from the European Union next year is a concern but not a sufficient one to block Peugeot’s investment in its van plant in England, chief executive Carlos Tavares said on Wednesday after announcing an expansion there.

Tavares, speaking alongside British business minister Greg Clark, said the country still needed to do work to ensure there would be frictionless trade with the EU after Brexit in March next year.

But Peugeot was agile enough to take risks in a world where Brexit was far from being the only source of political uncertainty, and a decision on van production at Vauxhall’s plant in Luton, southern England, could not wait, he added.

Reporting by Costas Pitas, writing by David Milliken; editing by Stephen Addison

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