Britain will back Jaguar Land Rover with a £1.5 billion loan guarantee to shore up its supply chain after the luxury carmaker’s production was halted by a cyberattack. The guarantee, underpinned by UK Export Finance, aims to prevent supplier collapse.
Jaguar Land Rover’s production shutdown has now stretched nearly a month. The disruption stems from a severe cyber-attack that crippled its IT systems, halting operations across its factories and putting its suppliers under existential pressure.
Some smaller suppliers have warned they have as little as a week’s cash left before insolvency. In the regions around Birmingham and Liverpool, where JLR’s factories are key employers, firms are cutting hours and making redundancies.
Business Minister Peter Kyle framed the attack as “not only an assault on an iconic British brand, but on our world-leading automotive sector,” adding that the guarantee is intended to “support the supply chain and protect skilled jobs.”
The loan guarantee will be privately financed and guaranteed by UK Export Finance. It is designed to unlock £1.5 billion in support for parts makers, logistics firms and other suppliers tied to JLR.
JLR is owned by India’s Tata Motors, and the company’s three UK factories together produce about 1,000 cars daily in normal times. The knock-on effect of the shutdown is significant in terms of jobs, exports, and industrial confidence.
The cyberattack itself began on 31 August, and by early September JLR had shut down many parts of its IT infrastructure. Though some systems have now been restored (allowing supplier payments and parts distribution), full production remains paused.
Government support is not limited to this guarantee; ministers have been exploring additional measures, including expedited payments to suppliers, tax deferrals, or direct purchase of components to keep cash flowing.
The scale of the guarantee signals how serious the government considers the risk not just to JLR, but to the UK’s broader industrial base, this is more than a carmaker rescue, it’s a test of supply chain resilience in an era of mounting cyber threats.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition...
Teyana Taylor and Stellan Skarsgård were among the first winners at the Golden Globe Awards on Sunday, as Hollywood’s annual awards season got unde...
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera...
The Arctic has become a frontline for strategic competition, NATO’s top military commander in Europe said on Sunday, as Russia and China increase th...
Chechen leader Ramzan Kadyrov is suffering kidney failure and is undergoing dialysis, Ukrainian intelligence sources say....
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Teyana Taylor and Stellan Skarsgård were among the first winners at the Golden Globe Awards on Sunday, as Hollywood’s annual awards season got under way in Beverly Hills.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
The Arctic has become a frontline for strategic competition, NATO’s top military commander in Europe said on Sunday, as Russia and China increase their presence in the region.
U.S. President Donald Trump has ruled out ordering a mission to capture Russian President Vladimir Putin, saying he is confident the war in Ukraine can be brought to an end.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
China, Russia and Iran have begun a week-long joint naval exercise in South African waters, a move that comes amid strained relations between Washington and several members of the expanded BRICS bloc.
Despite facing challenges in chip manufacturing, Chinese artificial intelligence (AI) researchers are optimistic about narrowing the technological gap with the United States, driven by an increasing culture of risk-taking and innovation.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
The Arctic has become a frontline for strategic competition, NATO’s top military commander in Europe said on Sunday, as Russia and China increase their presence in the region.
Chechen leader Ramzan Kadyrov is suffering kidney failure and is undergoing dialysis, Ukrainian intelligence sources say.
More than 1,000 apartment buildings in Kyiv remain without heating after Russian missile attacks crippled the city’s energy system during a sharp cold snap, Ukrainian officials say.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment