Jaguar Land Rover on state life support after cyberattack
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Jaguar Land Rover (JLR), owned by Tata Motors, is facing severe disruptions due to a cyberattack that forced a shutdown of its systems and production, costing £50m per week. The UK government is stepping in with financial support, including a loan backed by UKEF, to help JLR replenish working capital and pay suppliers. The attack has raised concerns about JLR's digital risk management, as it lacked cyber insurance. Meanwhile, Tata Motors' outlook has been downgraded, and JLR is also grappling with declining US market access and job cuts amid ongoing challenges.
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