BMW Mini is set to close its Oxford factory on October 31 as Brexit looms.

The Cowley plant will be shut for at least two days - reportedly up to two weeks in the event of a no deal - in order to minimise delays to deliveries. 

Several sources have reported that workers will not be paid during that time.

Nicolas Peter, the company's chief financial officer, also said that the plant would likely produce less cars in the event of a no-deal Brexit. 

ALSO READ: BMW 'will consider' Mini's future in Oxford in event of no-deal

He told the BBC: "No deal would mean that, most likely, tarrifs would be imposed on November 1 onwards.

"This would mean that we would most likely have to raise the prices of the products produced in the UK and shipped to other markets."

However, he said BMW had no plans to 'shift production' elsewhere at this stage.

The Oxford Times:

BMW has previously warned that leaving with no deal may force it to stop making the Mini in Oxford, risking more than 4,500 jobs. 

The Financial Times printed the news on its front page today, and said workers face 'weeks of unpaid leave' in the event of a no-deal Brexit.

Mr Peter is quoted in the article saying: "We are not capable of [implementing] a second holiday period in 2019, so this could have a financial impact on our colleagues working in Oxford."

READ AGAIN: Mini's month-long Cowley shutdown earlier this year

He told the paper this was due to the plant's month-long shutdown in April, when staff holiday allowance was used up.

BMW has confirmed with the Oxford Mail that the plant will close for two days, deal or no deal. 

A spokesman said: "There will be no production at MINI Plant Oxford on the evening of Thursday, October 31, or on Friday, November 1.

"The decision has been taken to minimise the risk of any immediate disruption to the supply of parts in the event of a ‘no deal’ Brexit.

"Our preparations for Brexit have been ongoing since the referendum in 2016 and we have been working closely with suppliers in the UK and in Europe to ensure our systems and processes are ready.

"While we hope that a ‘no deal’ Brexit can be avoided, we have to plan for this potential worse-case scenario.

"Our decisions are made in the best interest of our business and our workforce at the appropriate time, based on the best information available."