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Tata Motors Ltd-owned Jaguar Land Rover (JLR) on Monday (September 29) said it is taking further steps towards recovery with a controlled and phased restart of its operations. The company announced that some sections of its manufacturing operations will resume in the coming days, marking progress in the return to producing its vehicles.
JLR said it continues to work around the clock with cybersecurity specialists, the UK Government’s National Cyber Security Centre (NCSC), and law enforcement to ensure that the restart process is carried out safely and securely.
The company acknowledged that while more work remains, the foundational stages of its recovery are firmly underway. It also expressed gratitude to colleagues, retailers, and suppliers for their patience, understanding, and support during the disruption.
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JLR said it will continue to provide updates as recovery progresses.
Yesterday, the UK government announced that it will support “iconic British brand” Jaguar Land Rover with a loan guarantee of up to 1.5 billion pounds to give certainty to the carmaker’s supply chain following a devastating cyber-attack.
The loan will come from a commercial bank, backed by the Department for Business and Trade’s (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
The aim is to bolster JLR’s cash reserves following the production shutdown since early this month in the wake of the hack, to help support firms in the supply chain, many of them small and medium enterprises (SMEs) struggling to stay afloat.
Also Read: Tata Motors shares are bucking the trend in a weak market on Friday — Key factors explained
“This cyber-attack was not only an assault on an iconic British brand, but on our world-leading automotive sector and the men and women whose livelihoods depend on it,” said Peter Kyle, Business and Trade Secretary.
Last week, JLR said it is working to clear the “backlog of payments" to its suppliers by increasing its processing capacity for invoicing. “As part of the controlled, phased restart of our operations, we have informed colleagues, suppliers and retail partners that sections of our digital estate are now up and running,” the JLR statement said.
“The foundational work of our recovery programme is firmly underway. We have significantly increased IT processing capacity for invoicing. We are now working to clear the backlog of payments to our suppliers as quickly as we can,” it said.
Britain’s largest car manufacturer said the Global Parts Logistics Centre, which supplies parts to distribution centres for its retail partners in the UK and around the world, is returning to “full operations”.
Also Read: Tata Capital to launch ₹17,200 crore IPO from October 6; Tata Sons and IFC to divest shares
JLR said it continues to work around the clock with cybersecurity specialists, the UK Government’s National Cyber Security Centre (NCSC), and law enforcement to ensure that the restart process is carried out safely and securely.
The company acknowledged that while more work remains, the foundational stages of its recovery are firmly underway. It also expressed gratitude to colleagues, retailers, and suppliers for their patience, understanding, and support during the disruption.
Also Read: Tata Power partners with VECV to boost charging for Eicher electric trucks, buses
JLR said it will continue to provide updates as recovery progresses.
Yesterday, the UK government announced that it will support “iconic British brand” Jaguar Land Rover with a loan guarantee of up to 1.5 billion pounds to give certainty to the carmaker’s supply chain following a devastating cyber-attack.
The loan will come from a commercial bank, backed by the Department for Business and Trade’s (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
The aim is to bolster JLR’s cash reserves following the production shutdown since early this month in the wake of the hack, to help support firms in the supply chain, many of them small and medium enterprises (SMEs) struggling to stay afloat.
Also Read: Tata Motors shares are bucking the trend in a weak market on Friday — Key factors explained
“This cyber-attack was not only an assault on an iconic British brand, but on our world-leading automotive sector and the men and women whose livelihoods depend on it,” said Peter Kyle, Business and Trade Secretary.
Last week, JLR said it is working to clear the “backlog of payments" to its suppliers by increasing its processing capacity for invoicing. “As part of the controlled, phased restart of our operations, we have informed colleagues, suppliers and retail partners that sections of our digital estate are now up and running,” the JLR statement said.
“The foundational work of our recovery programme is firmly underway. We have significantly increased IT processing capacity for invoicing. We are now working to clear the backlog of payments to our suppliers as quickly as we can,” it said.
Britain’s largest car manufacturer said the Global Parts Logistics Centre, which supplies parts to distribution centres for its retail partners in the UK and around the world, is returning to “full operations”.
Also Read: Tata Capital to launch ₹17,200 crore IPO from October 6; Tata Sons and IFC to divest shares
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