Nissan makes U-turn over Brexit as bosses admit they were too gloomy about leaving the EU and insist the UK will be its European base 'for the foreseeable future'

They have been among the most vocal critics of Brexit – but now bosses at Japanese carmaker Nissan have talked down its impact.

There was a ‘negligible’ effect from leaving the European Union, the firm said, while chief executive Makoto Uchida insisted Britain will remain its European base for ‘the foreseeable future’.

Nissan, which had warned about the effect of Brexit on its investment, now says it would not be making a fresh £2billion investment into its Sunderland factory if the UK was not still worthy.

Mr Uchida added: ‘I am quite surprised that people here in the UK are asking, “Why UK?