Cyberattack on JLR Prompts £1.5 Billion UK Government Intervention

The UK government has announced a £1.5 billion ($2 billion) loan guarantee for Jaguar Land Rover (JLR) in response to the highly disruptive cyberattack that recently hit the carmaker.

The government made the announcement on Sunday, saying that the support package is meant to “give certainty to its supply chain following a recent cyber-attack”.

“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,” the government said.

The government’s announcement points out that JLR is one of the UK’s largest exporters and is responsible for one of the largest automotive sector supply chains in the country. Roughly 34,000 people are employed directly by JLR and 120,000 ...