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On October 4th, Jaguar Land Rover Automotive PLC formulated a plan to provide loans amounting to as much as £500 million (roughly equivalent to $674 million) with the aim of supporting its suppliers. This strategic decision was made in the wake of a cyberattack that occurred in early September, which crippled the automaker's production facilities, bringing all operations to a grinding halt.
It's worth noting that the loan being offered is a private arrangement, having no connection whatsoever to the £1.5 billion state - backed loan scheme that the UK government unveiled last Saturday. Looking ahead, Jaguar Land Rover's global production facilities are projected to commence a phased restart starting from Monday. However, it is anticipated that full operational capacity might not be achieved until after the Christmas holiday.
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