Jaguar Land Rover seeks state loan to overcome crisis, Sky says

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LONDON (May 23): Jaguar Land Rover has asked for a major support package to help it get through the Covid-19 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 (RM5.31 billion), though an unidentified spokesman for the company said suggestions it was as much as £2 billion 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.