Aston Martin says it may be forced to halt production if the UK cannot secure a Brexit deal with the EU.
Speaking at the Business Select Committee over the issue, the British automaker’s chief financial officer, Mark Wilson, claimed the results could be “semi-catastrophic” if a deal isn’t secured.
“We’re a British company. We produce our cars exclusively in Britain and will continue to do so.
“Recertifying to a new type of approval, be that federal US, Chinese or even retrospectively applying to use the EU approval, would mean us stopping our production,” he said.
Currently, all new vehicles in the UK are required to have Vehicle Certification Agency (VCA) approval, also valid in the EU. However, if a deal between the UK and EU cannot be reached, the validity of these cars will cease from March 2019, BBC reports.
“Recertifying to a new type of approval, be that federal US, Chinese or even retrospectively applying to use the EU approval, would mean us stopping our production,” Wilson added.
Uncertainty about the financial longevity of the UK after Brexit comes during an important time at Aston Martin. The car manufacturer took control of a former military base earlier this year and will convert it into a production facility to build the upcoming DBX crossover.