JLR ‘cyber shockwave ripping through UK industry’ as supplier share price plummets by 55%

Shares in a British automaker supplier plummeted 55% on Wednesday after it warned that a cyberattack on Jaguar Land Rover was impacting its business, according to a senior politician. Autins, which supplies specialist insulation components for Jaguar vehicles, opened 55% below its Tuesday closing price on the AIM, and by publication had recovered to a 40% drop.

The trading update acknowledged that JLR had stopped all production since the cyberattack on 1 September, a move the company said was having a material effect on its operations. Its chief executive, Andy Bloomer, told investors the attack was “concerning not just for Autins, but the wider automotive supply chain.” The report notes the situation is described as sending a “shockwave” through the country’s industrial sector, according to the cited senior politician, with further details available at The Record.