Jaguar Land Rover seeks state loan to overcome crisis, Sky says
Jaguar Land Rover has reportedly sought temporary state funding of over 1 billion pounds
London: Jaguar Land Rover has asked for a major support package to help it get through the coronavirus pandemic, Sky News reported, without saying where it got the information.
The UK’s largest carmaker is in discussions with the government about a taxpayer support package and it has submitted the biggest bespoke loan request of the Covid-19 crisis to ministers in recent weeks, the news service said.
The request is understood to have been for temporary state funding of well over 1 billion pounds ($1.2 billion), though an unidentified spokesman for the company said suggestions it was as much as 2 billion pounds were “inaccurate and speculative,” according to Sky.
Jaguar Land Rover, owned by Mumbai-based Tata Motors Ltd., is constantly in discussion with the government on a whole range of matters relating to Covid-19 and won’t discuss details that are confidential and private, Sky cited the company as saying.