BMW warns its Rolls-Royce employees in UK on the risk of EU exit image

BMW has written to its British staff from Rolls-Royce to warn about the risks the brand would face if UK existed the European Union, BBC reported.

There are many concerns from the automakers with operations within UK around the possibility of a Brexit and executives have come forth to say their companies would definitely prefer things to stay as they are now. A recent report from BBC shows BMW has serious worries on the matter, as the German brand made its views known to its British ultra-luxury unit. In a letter obtained by BBC, the Munich-based company set out what it sees as the benefits from UK’s membership of the European Union and the problems it would face if it voted to step outside on the upcoming June referendum. “The decision on whether to stay in the EU or not is for British voters to decide on in June,” the letter said. “However, as a wholly-owned BMW Group company, it is important for all Rolls-Royce Motor Cars employees to understand the view of our parent company.” BMW said the financial repercussions could be serious in case Britain left EU and it will not be granted a free trade deal.

The letter comes after BMW CEO Harald Krueger made some public comments on the subject this week at the Geneva Auto Show. “I’d find it very regrettable,” he said Tuesday. “What it might mean is hard to tell. BMW has Mini, Rolls-Royce and an engine plant in the UK. It’s critical that there’d be a trade agreement — and what sort.”

Via Reuters