UK Government To Underwrite £1.5 Billion loan Guarantee To Jaguar Land Rover Following Devastating Cyber-Attack

In an unprecedented move, the UK government has announced a £1.5 billion loan guarantee to Jaguar Land Rover (JLR) as the carmaker continues to grapple with the aftermath of a crippling cyber-attack that has brought its UK production lines to a standstill for nearly a month.

The loan from a commercial bank, backed by the Export Development Guarantee (EDG) provided by export credit agency UK Export Finance, will be paid back over five years and bolster JLR’s cash reserves so it can support its supply chain which has been greatly impacted by the shutdown.