JLR says production lines will fire up ‘in coming days’ almost a month after attack that has cost it close to $10m per day
JLR will restart production this week after a cyberattack halted UK plants. UK government steps in with $2 billion loan to keep suppliers afloat. The group hasn’t built a single vehicle since September 1.
More than four weeks after being crippled by a devastating cyberattack, JLR says it’s almost ready to restart its UK production lines. The company plans a phased build-up across its three British plants beginning in the ‘coming days.’ “Today we are informing colleagues, retailers and suppliers that some sections of our manufacturing operations will resume in the coming days,” JLR said in a statement. Related: Land Rover’s Baby Defender EV May Not Stay Electric For Long “We continue to work around the clock alongside cybersecurity specialists, the UK Government’s NCSC and law enforcement to ensure our restart is done in a safe and secure manner.” Concerned that some of the 700 suppliers that depend on JLR could soon go bust as a result of the automaker halting all orders, the UK government stepped in with a $2 billion loan guarantee. The cash is intended for JLR to help keep the supply industry going and will have to be paid back over five years. Cost of Silence Under normal circumstances, JLR churns out around 1,000 vehicles per day but hasn’t built a single car since September 1, the day after it was hit by the cyberattack. The shutdown is believed to have cost the company almost $10 million per day, and hasn’t only affected the production side of the company, but the retail one, too. Dealers reported having to complete paperwork using actual paper for the first time in decades. The automaker has two plants in the West Midlands and a third one further north on Merseyside. BBC News reports that the Wolverhampton engine plant will be the first to restart, but that it could be weeks before full production is achieved across all sites. Only Land Rover builds have been affected by the shutdown because sister company Jaguar has axed all of its older models in preparation for a move upmarket and the introduction of a new electric sedan previewed by this year’s 00 coupe concept. JLR isn’t the only well-known British luxury brand currently battling against a cyberattack. Iconic London department store Harrods was struck last week by a group which previously shut down British high street retailer M&S, costing it hundreds of millions of dollars.
Jaguar Jaguar Land Rover Land Rover Reports
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JLR has begun to restart its IT system following a crippling cyber attackCar maker has been rebuilding systems since cyber attack on 1 September; shutdown will continue until 1 October
Read more »
Taxpayer backs JLR with £1.5bn loan guaranteeChancellor calls firm a 'jewel in the crown of our economy' as UK government underwrites bank loan
Read more »
Government shutdown draws closer as congressional leaders head to White HouseDemocratic and Republican congressional leaders are heading to the White House in a late effort to avoid a government shutdown. But both sides have shown hardly any willingness to budge.
Read more »
Here’s what is so different about the brewing government shutdownThe possible government shutdown that seems imminent this week would be like no federal funding crunch before it.
Read more »
USD/CHF falls to near 0.7950, awaits updates on US government shutdown risksUSD/CHF extends its gains for the second successive session, trading around 0.7960 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) continues to lose ground amid market caution, driven by shutdown risks of the United States (US) government.
Read more »
JLR has begun to restart its IT system following a crippling cyber attackCar maker has been rebuilding systems since cyber attack on 1 September; shutdown will continue until 1 October
Read more »