Car maker Jaguar Land Rover has warned it urgently needs "greater certainty" on Brexit to continue to invest heavily in the UK and safeguard suppliers, customers and 40,000 British-based jobs.
The warning from Britain's biggest car maker follows similar statements from BMW and Airbus.
It comes ahead of a crucial meeting of the UK cabinet tomorrow to finalise a White Paper on Brexit.
Business Secretary Greg Clark said the UK government was determined to ensure JLR, a "great British success story", can continue to "prosper and to invest in Britain".
Chief executive of JLR Dr Ralf Speth said the company's "heart and soul was in the UK".
He said: "However we, and our partners in the supply chain, face an unpredictable future if the Brexit negotiations do not maintain free and frictionless trade with the EU and unrestricted access to the single market.
"We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees.
"A bad Brexit deal would cost Jaguar Land Rover more than £1.2 billion profit each year.
"As a result, we would have to drastically adjust our spending profile. We have spent around £50 billion in the UK in the past five years, with plans for a further £80 billion more in the next five.
"This would be in jeopardy should we be faced with the wrong outcome."
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Dr Speth added: "Electrification and connectivity offer significant economic and productivity opportunities - get Brexit wrong and British people, businesses and broader society lose the chance to lead in smart mobility."
More than 40,000 workers are employed by JLR in the UK, with a further 260,000 jobs in the UK supply chain.
In 2017, the company sold 621,000 cars, with 80% of them going to 130 countries.
One in three cars exported from the UK are Jaguars or Land Rovers.
Mainland Europe is one of JLR's largest markets, with 20% of cars being sold there.
