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As reported by India's Economic Times, Jaguar Land Rover, a wholly-owned subsidiary of Tata Motors, has sought an emergency loan of £2 billion (equivalent to US$2.7 billion) from international banks. This move is aimed at mitigating the financial turmoil triggered by a recent cyberattack. The cyber onslaught compelled the company to suspend its production operations. In response, leading financial institutions such as Standard Chartered, Citigroup, and Mitsubishi UFJ Financial Group have stepped forward, agreeing to extend emergency credit facilities. Jaguar Land Rover has clarified that this 18-month loan deal, which has already been secured and finalized, is expected to serve as a testament to the company's robust liquidity position, enabling it to offset potential revenue losses stemming from the production shutdown.
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