Toyota will invest £240 Million in its Derby car assembly plant for future model lines.
It also has it main engine plant on Deeside and has said it is critical that tariff-free access exists after the UK leaves the EU.
It intends to increase UK components sourcing to cut costs and also increase the “home” content for post-Brexit requirements.
Toyota build engines and Auris and Avensis models in the UK and the investment is for their next generation of models due inside three years and on a common global platform.
UK Government is giving a further £21 M in assistance and in a statement the CEO of Toyota Motor Europe, the manufacturing arm of the business, Mr Johan van Zyl said it was doing all it could to raise competitveness of the Derby plant.
The Burnaston plant was Toyota’s first in Europe nearly 25 years ago and it’s assembled 4 Million models in that time with £2.5 Billion invested and over 3,000 working at the two locations.