According to foreign media reports, Japan is the world's second largest luxury car market. British sports car manufacturer Aston Martin has announced a $646 million trade agreement with Japan.
British Prime Minister Theresa May announced the agreement during her recent trade visit to Japan. She said: "When we are ready to leave the EU, we must establish close ties with our existing allies. Aston Martin is the world leader and One of the most innovative companies, the UK is proud of this. I am also pleased that Aston Martin is able to participate in this important trade event. The deal will be in the West Midlands and the St. Anthony region of Wales. The employment issue will directly help, and it will also bring new opportunities in the future trade with Japan."
Aston Martin CEO Andy Palmer is a member of the British delegation. He said in his speech in Tokyo: "The Japanese market is the key to Aston Martin's future plans. For a long time, Aston Martin has been deeply involved. Japanese customers love it, our new store in Tokyo will become the world's largest store."
As part of the deal, Aston Martin will commit to purchase 70 million pounds ($90 million) of parts from Japanese companies such as Mitsubishi, Bridgestone, Denso and Yazaki. Palmer also announced that it will establish a new Aston Martin Japan headquarters to study the Japanese luxury car market and develop future products.
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