Britain pledges $3 billion loan for Jaguar Land Rover
The UK will support the Jaguar Land Rover with STG1,5 billion ($ A3.1 billion) credit guarantee, which will help support the supply chain after the production of the luxury car manufacturer after a cyber attack.
The closure of the Jaguar Land Rover took about a month and the government was investigating options to support the company, company and supply chain, and some small suppliers say they stayed for a week before cash without cash.
The car manufacturer of India’s Tata Motors has three factories around Birmingham, the second largest city in the UK and the northern city of Liverpool.
A survey on Friday showed that some companies have reduced personnel hours or dismissed.
Business Minister Peter Kyle said that the cyber attack was “not only an iconic British brand, but also an attack on our world leader automotive sector”.
“This credit guarantee will help support the supply chain and protect the qualified jobs,” he said.
The Ministry of Labor said that the loan will be specially financed and guaranteed by the UK’s export loan agency UK export finance, and that the car manufacturer is expected to unlock 1.5 billion pounds for the supply chain.
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