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JLR begins phased recovery after cyberattack, secures £1.5 billion government-backed loan
Jaguar Land Rover has begun a phased restart of operations after a crippling cyberattack, backed by a £1.5 billion UK government loan guarantee to stabilise cash flow and support suppliers, while clearing payment backlogs and restoring logistics.
The company announced on Monday (September 29) that it will begin a controlled, phased restart of manufacturing, with some sections of production resuming in the coming days. (Image source: Moneycontrol)
Jaguar Land Rover (JLR), the Tata Motors-owned luxury automaker, is taking decisive steps towards recovery following a major cyberattack that disrupted operations earlier this month, CNBC-TV18 reported. The company announced on Monday (September 29) that it will begin a controlled, phased restart of manufacturing, with some sections of production resuming in the coming days.
JLR said it is working closely with cybersecurity experts, the UK Government’s National Cyber Security Centre (NCSC), and law enforcement to ensure a secure restart of its systems and operations. “While there is still more to do, the foundational stages of our recovery are firmly underway,” the company said in a statement, thanking employees, suppliers, and retail partners for their support during the disruption.
The UK government has stepped in to support the company’s recovery, announcing a £1.5 billion loan guarantee to help JLR strengthen its cash reserves and protect its supply chain. The funding will be provided by a commercial bank, backed by the Department for Business and Trade’s Export Development Guarantee, and repaid over five years. Officials said the move aims to safeguard thousands of jobs and support small and medium-sized enterprises (SMEs) dependent on JLR’s production network.
JLR has also boosted its IT processing capacity to speed up payment clearances to suppliers, addressing a backlog caused by the disruption. Additionally, the company’s Global Parts Logistics Centre, which supplies components to distribution hubs worldwide, has returned to full operational capacity, a critical milestone in restoring the company’s production and delivery pipeline.
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