Jaguar Land Rover Automotive Plc is preparing a loan of as much as £500 million ($674 million) to support its suppliers after a cyberattack at the start of September brought the carmaker’s production facilities to a standstill, The Times reported.
The loan is being privately arranged and is separate to a £1.5 billion state-backed guarantee unveiled by government ministers last Saturday. That taxpayer-backed deal — designed to allow JLR to access funding from commercial banks — is yet to be signed off, The Times said, citing multiple sources.