Jaguar Land Rover to Partially Resume Carmaking After Cyberattack
JLR (Jaguar Land Rover) on Monday said it will partially restart manufacturing of its vehicles "in the coming days" after a damaging cyberattack halted operations at its UK factories.
The Indian-owned automaker said on September 2 that it had been targeted by hackers, severely disrupting sales and production and forcing the company to seek emergency funding.
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"As the controlled, phased restart of our operations continues, we are taking further steps towards our recovery," JLR said in a statement. "Some sections of our manufacturing operations will resume in the coming days."
The UK government at the weekend agreed to a loan guarantee worth £1.5 billion ($2.8 billion CAD) to help shore up the firm's cash reserves and supply chain.
The move does not mean that the government will lend money directly to JLR, which is owned by India's Tata Motors.
Instead, a government credit agency will provide the guarantee for a loan from a commercial bank, to be repaid over five years.
JLR last week said its IT systems were partly back online as part of a phased restart.
The partial systems restart helped to clear a backlog of payments to its suppliers, after unions warned that some were at risk of collapse due to the disruption.
Cyber gangs have increasingly targeted luxury brands and retailers, including Britain's Marks and Spencer, Harrods and the Co-op food chain.
