Toyota said it will invest a further £240 million in its car plant in Burnaston, Derbyshire to “improve plant competitiveness and … promote UK supply chain efficiencies.”

But Toyota warned that continued tariff-and-barrier free market access between the UK and Europe is vital for the plant’s future success.

The investment includes up to £21.3 million support from the UK Government for training, research and development and further enhancements of the plant’s environmental performance.

Johan van Zyl, CEO of Toyota Motor Europe, said: “We are very focused on securing the global competitiveness of our European plants …

“Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire.

“Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success.”