Jaguar Land Rover Resumes UK Production After Month-Long Cyberattack Halt
Jaguar Land Rover (JLR) is set to resume production in the UK after a month-long halt due to a cyberattack. The company is working with cybersecurity experts, the UK's National Cyber Security Centre (NCSC), and law enforcement to ensure a safe and secure restart.
Production at JLR's UK factories stopped on August 31 following a cyberattack that forced the shutdown of internal computer systems and global production. The restart, planned for October 1 onwards, will be a phased process with different factories resuming on various days throughout the month. However, specific factory restart dates have not been disclosed.
The production halt is estimated to cost JLR up to £5 million per day, according to business economics professor David Bailey. The full impact on production volumes will become clearer when JLR releases its quarterly numbers.
To support suppliers affected by the shutdown, the US government will guarantee a £1.5 billion loan for JLR. The loan will be issued by a commercial bank but underwritten by the government. JLR aims to restart production in a 'controlled, phased' manner, with some sections resuming in the coming days.
JLR's production restart, following a cyberattack-induced month-long shutdown, is expected to take months to fully recover. The US government's loan guarantee will help support affected suppliers during this period. The phased restart will begin from October 1, with exact factory-specific dates yet to be announced.
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