Toyota’s Derbyshire plant is operating at only half its capacity at present
The Japanese carmaker said the majority of engines for the new cars would be manufactured at its Deeside factory in north Wales.
"With around 85 percent of our United Kingdom vehicle production exported to European markets, continued free and frictionless trade between the United Kingdom and Europe will be vital for future success", Toyota Europe President and CEO Johan van Zyl stated today.
In a statement today, Business Secretary Greg Clark said it was a thumping vote of confidence in the UK. There is a lot of uncertainty in the United Kingdom economy at the moment but this sort of commitment is exactly what we need both locally and nationally.
The group's president and chief executive, Johan van Zyl, said: "As a company, we are doing what we can to secure the competitiveness of our United Kingdom operations as a leading manufacturer centre for our European business.
Toyota is a long-term investor, but if the business environment-not just for the United Kingdom but as a general statement-is not conducive for doing business, we will not invest", he then added. With around 85 per cent of our United Kingdom vehicle production exported to European markets, continued free and frictionless trade between the United Kingdom and Europe will be vital for future success.
"This major announcement is fantastic news and a massive vote of confidence for United Kingdom manufacturing and for Wales as a go-to inward investment destination". It signals Toyota's trust in TMUK's ability to build ever-better cars for our customers'.
TNGA was announced by Toyota in September 2015 as a way of streamlining the way the company designs, engineers and manufactures vehicles by standardising the size and position of key components within standard new vehicle platforms.
"We will constantly improve our productivity and competitiveness to help secure a bright future for TMUK".
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Welsh Secretary Alun Cairns added: 'Toyota's commitment to the United Kingdom is an enormous economic boost for Deeside and Wales as a whole.
Since the start of production in 1992, the facility has built more than four million vehicles and around five million engines.
Toyota has invested more than £2.75 billion and employs more than 3,000 people at the site.
"It also couldn't have come at a better time".
The news is a welcome boost for Britain's car-manufacturing industry, as it waits nervously to see if Brexit will bring tariffs and trade barriers. In the meantime, many are anxious about increased export tariffs.
"While the continued increase in vehicle sales across the continent - buoyed by economic stability - has been positive, this decision gives Toyota's two plants, and the whole supply chain that feeds them, a degree of certainty that they haven't had in recent months".
Last year, United Kingdom auto production fell for the first time since the depths of financial crisis in 2009, as Brexit fears took hold and consumers turned their backs on diesel vehicles.
Although vehicle production for the domestic market fell for the sixth month in a row year-on-year in January - down by six per cent to 28,229 cars - it was off-set by a growth in exports which were up 1.5 per cent to 119,252 cars shipped overseas.
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