Cyberattack Crisis: Jaguar Land Rover's Financial Lifeline Under Consideration

The UK government is contemplating financial support measures for Jaguar Land Rover's (JLR) suppliers, severely affected by an extended cyberattack-related shutdown. A government official confirmed this development on Thursday.

JLR, owned by India's Tata Motors, operates three British factories, producing roughly 1,000 cars daily. With the company losing over £50 million weekly, its 33,000-strong workforce is largely homebound. JLR, while abstaining from commenting on financial figures, said efforts are underway for a controlled and phased operational restart.

Visiting JLR, Peter Kyle, Secretary of State for Business and Trade, and Industry Minister Chris McDonald emphasized priorities: swiftly resuming production and stabilizing the supply chain. The government considers various aid options, including buying components from suppliers or offering government-backed loans, though supplier receptivity varies.