Jaguar Land Rover Set to Resume Production After Cyber Attack
Jaguar Land Rover (JLR) is preparing to resume car production after a month-long halt due to a cyber attack. The UK government has stepped in to support suppliers affected by the shutdown, with a £1.5 billion loan guarantee. However, details on the restart plan and the impact on production volumes remain unclear.
The cyber attack forced JLR to shut down all its factories and internal computer systems to protect data. The company aims to restart production by 1 October, but a full recovery could take months. Production restart will be in a 'controlled, phased' manner, with some sections resuming in the coming days. JLR has not specified which factories will restart first or the initial target production volumes.
The impact on production volumes will be clearer when JLR releases its quarterly numbers. Until then, the company has not explicitly revealed the planned manufacturing sites that are still not disclosed. The UK government has guaranteed a £1.5 billion loan to JLR to support suppliers affected by the production shutdown. The loan will be issued by a commercial bank but underwritten by the UK government. According to business economics professor David Bailey, the cyber attack could be costing JLR up to £5 million a day.
JLR is working towards resuming production by 1 October, but the full recovery process is expected to take months. The UK government's £1.5 billion loan guarantee aims to support suppliers during this challenging period. The exact impact on production volumes and the restart plan will become clearer in the coming weeks.
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