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UK Offers £1.5 Billion Loan Guarantee to JLR After Cyberattack Halts Production

A state credit agency will guarantee a five-year bank loan to stabilize cashflow, safeguarding supplier jobs.

Overview

  • Production at Jaguar Land Rover’s UK plants remains paused until at least October 1 as core IT systems are restored in phases.
  • The government guarantee backs a commercial bank loan that JLR is due to repay over five years rather than a direct cash injection.
  • JLR says some data were accessed during the attack, though the company has not disclosed details on what was taken.
  • Investigations continue with the National Cyber Security Centre and police, and responsibility for the breach has not been identified.
  • Ministers say the support aims to protect the supply chain and skilled roles in a sector employing more than 800,000 people, as cyberattacks have also recently hit Marks & Spencer, Harrods and the Co-op.