UK supports JLR supply chain with £1.5 billion loan guarantee
The JLR support package highlights the Government’s broader Industrial Strategy, including trade deals, electric vehicle grants and R&D funding for the UK’s automotive future.
The UK Government will guarantee a £1.5 billion loan to Jaguar Land Rover (JLR) in response to the cyber-attack that forced the carmaker to halt production.
An Export Development Guarantee, administered by UK Export Finance, will back a commercial bank loan repaid over five years to stabilise JLR’s finances and protect its supply chain.
Business Secretary Peter Kyle described the attack as a strike on the UK’s automotive sector and said the guarantee would safeguard jobs across the West Midlands, Merseyside and beyond.
Chancellor Rachel Reeves called JLR a ‘jewel in the crown’ of the UK economy, stressing that the package would protect tens of thousands of jobs directly and indirectly linked to the manufacturer.
JLR employs 34,000 people in the UK and supports an automotive supply chain of 120,000 workers, many in SMEs.
The guarantee forms part of the Government’s modern Industrial Strategy, which includes backing for electric vehicle adoption, reduced energy costs for manufacturers, and multi-billion-pound commitments to research and development.
An announcement follows ministerial visits to JLR headquarters and supplier Webasto, with ministers promising to keep working with industry leaders to get production back online and strengthen Britain’s automotive resilience.
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