UK Considers Support for JLR Suppliers After £2bn Cyberattack Shutdown

Jaguar Land Rover (JLR) has been severely impacted by a cyberattack that halted production and led to substantial financial losses estimated at nearly £2 billion, with the shutdown extended until at least October. The attack has jeopardized the stability of JLR's extensive supply chain, involving thousands of suppliers, many of whom face possible collapse without government intervention. Labour ministers and MPs from the West Midlands and Merseyside are urging the government to provide financial support to these suppliers, considering measures such as government-backed loans, purchasing component parts, and Covid-style furlough schemes, although the latter is unlikely due to cost concerns. JLR's lack of finalized insurance coverage has compounded the crisis, putting the full financial burden on the company and its suppliers. Political leaders including MP Matt Western and Business Secretary Peter Kyle emphasize the urgency of government action to protect jobs and maintain the supply chain, highlighting the cyberattack as a significant threat to the regional and national economy. The government is actively engaging with JLR and its suppliers to explore solutions aimed at mitigating the economic fallout and ensuring the automotive sector's resilience.