"This cyberattack was not only an assault on an iconic British brand, but on our world-leading automotive sector and the livelihoods that depend on it,"
"This guarantee will help keep suppliers afloat and safeguard jobs across the West Midlands, Merseyside and beyond."
"jewel in the crown of our economy"
Jaguar Land Rover suffered a major cyberattack in late August that halted vehicle production across its three UK plants and prevented the company from building cars for almost a month. The Treasury, via UK Export Finance, will guarantee loans worth up to £1.5bn to help JLR access private financing and support its extensive supplier network. The guarantee aims to prevent collapse of a supply chain that sustains about 120,000 supplier jobs alongside JLR's 34,000 UK employees. The Wolverhampton engine plant is expected to reopen in early October, but a phased reboot will likely delay full production until the end of the year.
Read at Business Matters
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