Jaguar Land Rover Gets UK Guarantee for £1.5 Billion Loan

Jaguar Land Rover will receive support from the British government for an £ 1.5 billion loan, which aims to alleviate the tension on the suppliers hit by the production stop in the car manufacturer triggered by a cyber attack.

The government said on Saturday that the loan, which will be provided by a commercial bank and guaranteed by the UK export financing, will be paid back for five years. As a result of the attack at the beginning of this month, Range Rover Maker comes after relieving the wider supply chain after the idling of plants in England, Slovakia, Brazil and India.

While the workers’ government was forcing some sellers to send home, while others were waiting for payment from JLR, they were negotiating to provide support to the suppliers caught in Hack’s sprinkler. England’s largest automobile manufacturer employs 34,000 people in the UK and has 120,000 more work in the country.

Providing relief to the automotive industry will help Prime Minister Keir Starmer’s government on the government, because the ruling workers’ party Liverpool starts on Sunday for the annual conference.

This week, Business Secretary Peter Kyle, who visited the automobile manufacturer and supplier Webasto, said, “This credit guarantee will help to support the supply chain and protect the qualified jobs in West Midlands, Merseyside and England.”

JLR said on Thursday that some systems are online and work with a accumulated business accumulation of supplier invoices, accelerate the distribution of parts for dealers and accelerate vehicle sales and records. The company aims to restart some production operations on October 1, but warned that it will take some time to return to full speed.

This article was created from an automatic news agency feeding without changing the text.