Jaguar Land Rover rescued by emergency bailout

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleThe UK government has announced a £1.5 billion loan guarantee to Jaguar Land Rover (JLR) following a significant cyber attack. Chancellor Rachel Reeves stated the bailout aims to protect thousands of jobs at the iconic British company and its extensive supply chain. JLR was hit by hackers last month, leading to a halt in production and threatening its supply chain, with the company reportedly uninsured for cyber attacks. The loan, provided by a commercial bank and backed by UK Export Finance, will bolster JLR's cash reserves and is repayable over five years. This decisive action is part of the government's modern industrial strategy to boost growth and jobs in the UK automotive industry, supporting regions like the West Midlands and Merseyside. In fullJaguar Land Rover cyber attack: Reeves issues £1.5bn loan guarantee to rescue British car makerThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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