The government will underwrite a £1.5bn loan guarantee to Jaguar Land Rover (JLR) after a mass cyber attack forced a shutdown.

JLR suspended production at its UK factories following the cyber attack on 31 August. The shutdown is expected to last until 1 October, leaving the largest UK carmaker's suppliers in limbo.

The loan is expected to give suppliers some certainty amid the continued shutdown, as the £1.5bn will help bolster JLR's cash reserves as it pays back companies in its supply chain.

The government will give its backing to the loan through the Export Development Guarantee (EDG), a financial support mechanism aimed at helping British companies that sell their goods overseas.

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JLR shutdown extended

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