Brexit-backing billionaire Jim Ratcliffe is in talks to build his Grenadier off-road vehicle, a paean to Britain’s adventurous spirit, in France.

Survey finds majority of factory owners have cut investment, as insolvencies hit six-year high.

Ineos Automotive Ltd., owned by chemicals tycoon and Brexit-backing billionaire Jim Ratcliffe, said it would build its electric 4x4 at a factory in Graz, Austria.

Chemicals giant Ineos has been accused of exploiting Brexit to pressure ministers to get rid of environmental legislation. Ineos, which is one of the leading firms pushing to frack for shale gas across the UK, lobbied the government to roll back measures that mean energy-intensive industries pay to develop low-carbon power sources.

Billionaire Sir Jim Ratcliffe, a Leave campaigner in the run-up to the 2016 Brexit referendum, has confirmed a new 4x4 vehicle will be built in France.

Brexiter Ineos boss, who has an estimated £17.5bn fortune, officially changes tax domicile.

Billionaire said Britain would be 'perfectly successful' outside of the EU, but is now opting to leave.