Particle.news

Download on the App Store

JLR Lines Up £500m Supplier Lifeline as Phased Production Restart Begins

The government’s £1.5bn guarantee remains unsigned, leaving lower‑tier suppliers unsure of relief.

Overview

  • Reports say JLR is finalising a privately funded invoice‑financing facility of up to £500 million for tier‑one suppliers, relying on them to pass support down the chain.
  • The carmaker is reported to resume limited manufacturing on Monday, starting at its Wolverhampton engine plant, after a cyberattack halted production in early September.
  • The £1.5 billion state‑backed Export Development Guarantee announced last week has not been signed, raising doubts about how quickly money will reach suppliers.
  • Regional chambers of commerce warn many firms are running out of cash and urge ministers to ready further measures if funds fail to reach smaller suppliers.
  • Separately, JLR has secured a £2 billion facility from Standard Chartered, Citigroup and MUFG to strengthen liquidity during the restart.