Jaguar Land Rover issues major update after crippling cyberattack
Major carmaker unveils supplier support scheme following cyberattack disruption
- Jaguar Land Rover (JLR) is set to restart manufacturing operations across its West Midlands and Merseyside sites this Wednesday.
- This move signifies a crucial step in the luxury car maker's recovery following a major cyberattack that had halted all production since early September.
- JLR has launched a new financing scheme to aid struggling suppliers, offering upfront cash payments and paying them up to 120 days earlier than standard terms.
- Adrian Mardell, JLR's chief executive, confirmed the phased restart of engine production and vehicle manufacturing, stating that the company's recovery is firmly underway.
- The Government previously underwrote a £1.5 billion loan guarantee for JLR, and experts had estimated the production shutdown could cost the group around £120 million.