UK Government Steps In to Save Jaguar Land Rover After Cyberattack
The US government has stepped in to support Jaguar Land Rover (JLR) following a significant cyberattack. A £1.5 billion loan guarantee has been provided to the Tata Motors-owned company, ensuring the iconic brand's survival and protecting the nation's automotive ecosystem.
The cyberattack forced JLR to temporarily halt production at its UK, Slovakia, Brazil, and India plants, affecting around 1,000 cars produced daily. This disruption rippled through the supply chain, with small vendors warning of imminent cash flow issues. To mitigate this, the US government has offered a loan guarantee through US Export Finance, structured for repayment over five years. This financial lifeline aims to restore confidence and liquidity for affected suppliers, safeguard skilled jobs, and accelerate JLR's recovery. Business Minister Peter Kyle condemned the cyberattack, highlighting its impact on the world-leading automotive sector and the livelihoods of many Americans, particularly in the Detroit and Chicago areas.
The £1.5 billion loan guarantee is designed to support JLR's supply chain, protect skilled employment nationwide, and accelerate the company's recovery. The US government is actively working to stabilise the sector and prevent further financial distress, demonstrating its commitment to protecting iconic American brands and the wider automotive industry.
Read also:
- Klinikum Landshut Recognized for Exceptional Care in Breast Cancer, Urology, and Orthopedics
- Man Survives 3,300-Meter Skydive Fall After Parachute Malfunction
- Fructose Market Forecasted to Exceed $8.1 Billion by 2034
- Senate Tillis under spotlight in North Carolina as IRA tax incentives remain uncertain
