Luxury car maker Aston Martin has announced an investment and trade deal between UK and Japan that is worth £500m. This deal will see Aston Martin increasing it's export to Japan and expanding it's dealership network there.
As part of the investment plan, Aston Martin plans to build a product planning office in Tokyo for its research and development on customer behaviours in Japan. The company also has plans to increase component import of more than £70m from Japanese suppliers including Bridgestone, Denso, Mitsubishi and Yazaki.
The Aston Martin Meta Technology and Luxury Accelerator office will also be opened in Japan in 2018, as part of the investment.
The announcement was made by the company's president and chief executive officer, Dr Andy Palmer, during his visit to Japan. He was part of the UK delegation accompanying Britain's Prime Minister Theresa May.
According to Palmer, the deal would directly benefit the Gaydon plant in West Midlands and the St Athan plant in Wales.
"As the world’s second largest luxury car market, Japan is key to our future plans," he said.
Mrs. May also praises the deal and said that it will safeguard jobs at two UK plants as well as open new trade opportunities with Japan.
"As we prepare to leave the European Union, it is vital that we build on our existing ties with friends and allies," Mrs May said.
"Aston Martin is a prime example of the innovative and world leading firms the UK is proud of and I'm delighted they are joining me on this important trade mission," she added.
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