Government to guarantee £1.5bn JLR loan after cyber shutdown

The UK government has agreed to guarantee a £1.5 billion loan for Jaguar Land Rover (JLR) to help the automaker recover from a recent cyber attack that disrupted its operations. The loan, provided by a commercial bank, is intended to give confidence and certainty to JLR's suppliers, who were affected by the cyber incident. The move comes as JLR, one of the UK's largest car manufacturers, continues to grapple with the aftermath of the cyber attack, which forced the company to temporarily halt production at some of its plants. The government's intervention aims to stabilize the company's supply chain and ensure the continued operation of its production facilities. The loan guarantee is seen as a critical step in supporting the automotive industry, which has faced numerous challenges in recent years, including the COVID-19 pandemic and supply chain disruptions. The government's decision to provide this financial assistance underscores its commitment to protecting the UK's manufacturing base and the jobs it supports.