UK grants £1.5B loan to Jaguar Land Rover after cyberattack

The UK government has announced a support package of £1.5 billion for Jaguar Land Rover in response to a disruptive cyberattack, with a loan guarantee backed by the Export Development Guarantee provided by UK Export Finance and paid back over five years. The announcement, according to Business Secretary Peter Kyle, aims to protect JLR’s supply chain, safeguard jobs, and stabilise the auto sector after the shutdown.

JLR is described as a top exporter, employing 34,000 directly and supporting 120,000 jobs through its extensive supply chain. The package is designed to bolster JLR’s cash reserves to help support its suppliers and maintain operations during the disruption. Cybersecurity experts warned that the bailout could embolden cybercriminals to target UK firms with weak defenses, highlighting concerns over the government’s broader approach to industry resilience.