On the Dash:
- Britain is providing a $2 billion loan guarantee to support Jaguar Land Rover’s supply chain and protect jobs.
- Jaguar Land Rover is beginning a phased restart of its three UK factories after a cyberattack shutdown.
- The shutdown has cost the company roughly $68 million per week, with suppliers and staff facing financial strain.
Britain will provide Jaguar Land Rover with a 1.5 billion pound ($2 billion) loan guarantee to support the luxury automaker’s supply chain following a nearly month-long production shutdown caused by a cyberattack. The loan, backed by the UK Export Finance agency, is expected to unlock additional private financing, stabilizing suppliers at risk of running out of cash.
JLR said Monday it will begin a phased restart of its three British factories. The plants, located around Birmingham and Liverpool, produce roughly 1,000 vehicles per day and employ thousands of workers in the region. Many staff members had been instructed to stay home during the shutdown, which has resulted in an estimated 50 million pounds ($68 million) in lost revenue per week.
The government’s support comes amid concerns that some suppliers had only a week of cash left and had started reducing staff hours or making redundancies. Business minister Peter Kyle described the cyberattack as a direct blow to both Jaguar Land Rover and Britain’s automotive sector, and said the loan guarantee is intended to safeguard skilled jobs and the broader supply chain.
The automaker confirmed last week that critical systems controlling the supply of parts and financial operations had begun coming back online. The company said its ability to process invoices and support global parts distribution has improved, enabling it to resume manufacturing at a controlled pace. The phased restart is expected to restore full production while maintaining stability in the supply chain.
