JLR ‘seeking £1bn government rescue package’
- 25/05/2020
- Posted by: Alan Feldberg
- Category: News
Jaguar Land Rover (JLR) is understood to be seeking a £1bn bailout from the government.
The company is losing an estimated £1bn a month during lockdown.
JLR said sales were 30.9% in the three months to the end of March compared the same period last year. It employs 38,000 in the UK.
Its facilities have been shut since the end of March, although last week it restarted some production at its Solihull plant and at its engine-making site in Wolverhampton.
A spokesman for the Department for Business, Energy and Industrial Strategy said: “The government is in regular contact with the car manufacturing sector to assist them through this crisis. We recognise the challenges facing the industry as a result of coronavirus and firms can draw upon the unprecedented package of measures, including schemes to raise capital, flexibilities with tax bills and financial support for employees.”
