Honda expected to announce Swindon plant closure

Honda declined to comment on the reports that 3,500 jobs were at risk at the Swindon branch

Honda declined to comment on the reports that 3,500 jobs were at risk at the Swindon branch

Honda built just over 160,000 vehicles at the United Kingdom factory a year ago, roughly 10 percent of Britain's total output of 1.52 million cars.

The news comes as British businesses are issuing increasingly urgent warnings about the damage being done by the uncertainty around Britain's looming exit from the European Union.

The Japanese auto giant hasn't confirmed the claims, but the local Conservative MP said he had spoken to Honda, which was clear the decision was "based on global trends, and not Brexit".

"This is not Brexit-related".

He tweeted: "They are clear this is based on global trends and not Brexit as all European market production will consolidate in Japan in 2021".

City A.M. has approached Honda for comment.

Iran launches cruise missile equipped Fateh submarine
The Fateh is its first domestically produced cruise-missile submarine . "Our defence power is exclusively defensive". Iran's top military brass and cabinet ministers attended the ceremony.

"We will be doing everything we can in the coming days and weeks to support our members at this grave time for them, their families and the United Kingdom economy".

Japan has repeatedly warned it could pull investments in Britain, which it had seen as a gateway into Europe, if London does not secure a Brexit deal favorable for trade. Similarly, companies like Dyson and Sony have announced plans to relocate in recent weeks.

It worked. Honda, along with Toyota and Nissan, poured tens of billions of pounds into reviving the United Kingdom vehicle industry.

The firm said last month that it will shut its British operations for six days in April to help it counter any border disruption from the Britain's departure from the European Union. It was also preparing to front-load some production at its plant to ship overseas or build up inventories.

The company employs about 3,500 people at its plant in Wiltshire, building around 160,000 Honda Civics a year, more than 90% of which were exported to Europe and the US. The Japanese giant's sprawling 370-acre Swindon site is its only European auto production facility, containing a casting plant alongside its engine and vehicle assembly lines.

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