TMPV

Updates with impact and details of cyber attack

LONDON, Nov 14 (Reuters) - Jaguar Land Rover said on Friday its manufacturing operations had returned to normal after a cyberattack forced a six-week halt at its UK plants, disrupting supply chains and costing the carmaker hundreds of millions of pounds.

The British luxury carmaker, owned by India's Tata Motors TATM.NS, resumed production in October after a phased restart, following the shutdown of systems in early September to contain the incident.

Below are the key facts about the incident and its impacts:

• Britain's economy barely expanded in the third quarter, held back in part by the cyberattack at JLR

• JLR has three factories in Britain, which together produce about 1,000 cars per day

• No evidence of customer data theft; some internal data affected

• JLR reports Q2 cyberattack-related costs of 196 million pounds ($263.05 million)

• Disruption hit JLR's sales in Q2, with wholesales down 24% year-on-year and retail sales falling 17%

• The company introduced supplier financing measures to ease cashflow pressures during the stoppage

($1 = 0.7451 pounds)

(Reporting by Sam Tabahriti; Editing by Kate Holton and Susan Fenton)

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Nov 13 (Reuters) - India's Tata Motors TATM.NS, the country's top commercial vehicles maker, reported a quarterly loss on Thursday, as it took a one-time impairment charge related to an investment in one of its units.

The maker of Ace mini-truck reported a loss of 1.02 billion rupees ($11.6 million) for the quarter ended September 30, compared with a profit of 6.43 billion rupees a year ago.

The company split from the passenger vehicles business in October, with both businesses now operating independently under the Tata Motors group.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 27 (Reuters) - Indian automakers are likely to see double-digit profit growth in the September quarter, according to brokerages, driven mostly by demand for two-wheelers and tractors, with improvement in the passenger vehicle segment set to reflect in December.

Auto companies' sales volumes and profitability have taken a hit, with firms posting single-digit profit growth in the previous five quarters, due to consumption slowdown, a global chip shortage and uncertainties surrounding U.S. tariff policies.

However, tax and interest rate cuts are seen boosting demand further, with the recovery expected to fully show in the December quarter, according to Hitesh Thakurani and Shubhangi Kejriwal of HDFC Securities.

The government's September tax relief on goods from soaps to small cars helped lift retail sales in the final weeks of the month.

IN THE FAST LANE

Indian automakers are expected to post 10–17% revenue growth and about 15% profit growth year-on-year in the September quarter, led by gains in two-wheelers and tractors, according to HDFC Securities.

Top two-wheeler makers Bajaj Auto BAJA.NS and TVS Motor TVSM.NS are set to benefit from stronger exports, favourable forex rates and a 12% fall in shipping costs, the brokerage said. TVS will report results on Tuesday and Bajaj Auto on November 7.

Tractor sales have also aided the recovery, supported by a normal monsoon, lower borrowing costs and tax cuts, according to Motilal Oswal.

Analysts at Nomura, Kapil Singh and Siddhartha Bera, said tractor volumes were likely to beat expectations.

SHORT-LIVED GLOOM

Growth in the passenger vehicles segment is expected to remain soft, according to Nomura, due to supply shortages, with sales set to dip 1.5% year-on-year in the quarter.

Market leader Maruti Suzuki MRTI.NS is likely to face short-term margin pressure from higher launch costs and customer discounts, but exports, led by its E-Vitara line, are emerging as a key growth engine, according to brokerages.

Tata Motors TAMO.NS is expected to lag due to cyberattack-led production shutdowns at Jaguar Land Rover but several brokerages said growth is set to pick up due to tax cuts, festive demand and exports.

Maruti will report results on Friday, followed by Mahindra & Mahindra MAHM.NS on November 4. Tata Motors is yet to announce a date.

(Reporting by Meenakshi Maidas and Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)

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Rewrites with details from investor call

By Kashish Tandon and Manvi Pant

Oct 15 (Reuters) - Hyundai Motor 005380.KS will invest $5 billion to expand its manufacturing and research operations in India, the South Korean automaker said on Wednesday, putting the world's third-largest car market at the heart of its growth strategy.

The money will help to increase Hyundai India's HYUN.NS annual production by about a third to 1.1 million vehicles by 2030, introduce 26 cars including its first hybrid vehicle tailored for India, and launch its luxury car brand Genesis in the country, Hyundai Motor CEO Jose Munoz told reporters.

The group expects the investment to generate $11 billion of revenue in India by 2030, making it Hyundai's second-largest market behind the U.S., Munoz said during the first investor day for its Indian unit.

BATTLE TO RECAPTURE MARKET SHARE

"India is a strategic priority in Hyundai's global growth vision. India isn't just important to Hyundai's global strategy. India is Hyundai's global strategy," Munoz said during the virtual presentation.

Hyundai India's shares rose nearly 3% after the news.

During nearly three decades in India, Hyundai had invested a total of $5 billion in the country.

The new outlay comes as the group is under pressure in its major U.S. market from President Donald Trump's tariffs, while also facing scrutiny over worker deaths and labour practices at its factory in Georgia.

Hyundai, which entered India in 1996, was until recently the country's second-largest carmaker, after Maruti Suzuki MRTI.NS, with bestsellers such as the Creta and Venue SUVs.

But its market share has slipped in recent months to below 14% from a peak of about 18% as it faces increased competition from Indian rivals such as Mahindra & Mahindra MAHM.NS, which has stepped into the second spot so far this fiscal year. By pumping fresh money into the market, Hyundai is targeting more than 15% share of the domestic market.

The Genesis luxury brand will debut in 2027, starting small but scaling “significantly” by 2032, Munoz said. The company expects the brand to enhance profitability and attract premium customers.

India will also become Hyundai's global export hub, with 30% of local output earmarked for overseas markets by 2030.

Hyundai India is planning dividend payouts of 20% to 40% of earnings, comparable to Maruti's 28.16% payout ratio in fiscal 2025 and Mahindra's 22%.

On Tuesday, Hyundai Motor India named insider Tarun Garg as the first Indian chief executive of the company, succeeding Unsoo Kim.

(Reporting by Kashish Tandon and Manvi Pant. Editing by Louise Heavens and Mark Potter)

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

KOLKATA, Oct 13 (Reuters Breakingviews) - A power struggle at one of its largest business houses is the last thing India needs as it grapples with punitive U.S. tariffs. The government has intervened unusually quickly in a boardroom battle at the Tata group; India's finance minister, Nirmala Sitharaman, met last week with the $300 billion conglomerate's unlisted holding company and the charitable trusts that are its 66% owners and urged them to resolve their internal disputes. It confirms the systemic risks posed by India's family-led businesses.

One year on from the death of the group's patriarch, Ratan Tata, the conglomerate is battling multiple operational crises: the country's top manufacturer and employer is reeling from the deadly crash of a plane at Air India – a carrier it acquired from the government in 2022; a cyberattack has crippled production at Tata Motors' TAMO.NS luxury marque Jaguar Land Rover; and growth is weak at its IT software services giant, Tata Consultancy Services TCS.NS.

Yet the board of Tata's main holding company, led by Natarajan Chandrasekaran, is at only three-fifths of its March 2024 strength after a tussle between trustees at the charitable trusts resulted in the ousting of a director of Tata Sons in September. Noel Tata, who succeeded his half-brother as the chair of Tata Trusts, is struggling to stamp his authority on the group, and his position is complicated by his marriage to the sister of former Tata Sons chair Cyrus Mistry, whose family wants to exit Tata Sons; their 18% stake might be worth up to $38 billion.

India is no stranger to drama at its family businesses, but the Tatas, like Mukesh Ambani's Reliance Industries RELI.NS and the Adani group, are increasingly embedded in New Delhi's strategic planning. Tata group is Apple's AAPL.O domestic partner, leads the charge in India's chipmaking ambitions and produces defence gear through joint ventures with Lockheed Martin LMT.N and Boeing BA.N. The boom in software services over the past two decades means TCS alone has a headcount of over 593,000.

New Delhi needs its leading businesses putting their best foot forward to offset the impact of Trump's trade war. But on top of the Tata woes, the $160 billion Adani group has slowed capital expenditure and is more reliant on Indian banks after U.S. authorities charged its founder Gautam Adani with fraud, allegations the group denies.

The government's intervention at Tata group may accelerate an exit for the Mistry family. If nothing else, it shows India recognises the dangers of depending on a chosen few.

Follow Shritama Bose on Linkedin and X.

CONTEXT NEWS

Two senior Indian ministers met top executives from the Tata group and urged them to resolve internal boardroom disputes, Reuters reported on October 8, a day after the meeting took place, citing unnamed sources.

Finance Minister Nirmala Sitharaman was one of the ministers present at the meeting in New Delhi, which Tata Sons Chair N. Chandrasekaran and Tata Trusts head Noel Tata attended, the report added.

(Editing by Una Galani; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

By Aditya Kalra

NEW DELHI, Oct 10 (Reuters) - A trustee of Tata Group's charity arm has said its decision to vote him off the board of the $180-billion business empire it controls was "unprecedented" and signals a "different era", in the biggest boardroom rift to shake India Inc in years.

The discontent at Tata Trusts, a year after the death of family patriarch Ratan Tata, has fuelled fears of a repeat of a bitter 2016 public spat between the charity and Tata Sons that also hit the reputation of India's most revered conglomerate.

Tata Trusts has a stake of 66% stake in Tata Sons, which in turn, oversees 30 firms in areas ranging from consumer goods to airlines, including global names such as Jaguar Land Rover, Tata Consultancy Services TCS.NS and Tata Motors TAMO.NS.

The disagreement in recent weeks concerns which trustees should sit on the board of Tata Sons, the general business direction taken by the group and how to manage the planned exit of minority shareholder Shapoorji Pallonji, Reuters has reported.

The trustees voted not to reappoint Vice Chairman Vijay Singh to the board of Tata Sons in September, laying bare a tussle among senior members of the powerful charity arm, which is led by Ratan Tata's half-brother Noel Tata.

"The idea of voting on any matter in Tata Trusts is unprecedented," Singh told the Indian Express newspaper in rare public comments from an insider at the firm that has always sought to stay out of the limelight.

"Ratan Tata was very firm that there should always be consensus and unanimity on issues ... and perhaps we are now in a different era.

Four trustees voted against Singh's continuance on the Tata Sons board for reasons that did not appear to have been spelt out, he added.

Tata Trusts and Tata Sons, which have not commented on the matter, did not respond to emails from Reuters seeking comments on Friday. Singh did not respond to text messages.

But two senior Indian ministers in a rare intervention this week urged Tata Trusts to resolve internal boardroom disputes.

A source with direct knowledge of the issues at Tata Trusts said on Friday there are two factions at the charity arm which disagree on a host of issues, one led by its Chair Noel Tata and the other by a trustee, Mehli Mistry.

The source spoke on condition of anonymity as the matter is private. How the indvidual factions line up on the issues at stake is not clear.

Mehli Mistry is a cousin of the late Cyrus Mistry, a former Tata Sons chairman who died in 2022. Their family firm Shapoorji Pallonji holds a stake of 18% in Tata Sons.

(Reporting by Aditya Kalra; Editing by Clarence Fernandez)

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Oct 8 (Reuters) - British car dealer Vertu Motors VTU.L on Wednesday warned of a hit of up to 5.5 million pounds ($7.4 million) to annual profit from disruptions due to a cybersecurity incident at Jaguar Land Rover, sending its shares down 3.5% in early trading.

Luxury carmaker JLR, owned by India's Tata Motors TAMO.NS said on Tuesday that it was restarting some of its operations after it was forced into a near six-week shutdown following a major cybersecurity incident.

Vertu, which operates 10 JLR dealerships, said about 2 million pounds of the profit impact was in September, with the full-year effect hinging on when JLR restores its systems.

"We are currently working with our insurance brokers and insurers to assess a potential claim under our insurance policy, which extends to the impact of third-party systems outages," Vertu CEO Robert Forrester said in a statement.

The company said it expects to report annual adjusted pretax profit in line with market expectations, excluding the JLR impact. Analysts on average were expecting profit of 27.2 million pounds, according to the company.

For the six months ended August 31, adjusted profit before tax was 20 million pounds, down nearly 10% from last year.

($1 = 0.7468 pounds)

(Reporting by Simone Lobo and Pushkala Aripaka in Bengaluru; Editing by Nivedita Bhattacharjee)

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Oct 7 (Reuters) - JLR:

• RESTARTS MANUFACTURING AND INTRODUCES NEW FINANCING SOLUTION TO PAY JLR SUPPLIERS EARLY

• PHASED RESTART OF JLR’S MANUFACTURING OPERATIONS BEGINS AT THE ELECTRIC PROPULSION MANUFACTURING CENTRE

• NOW FAST‑TRACKING NEW FINANCING SCHEME THAT WILL PROVIDE QUALIFYING JLR SUPPLIERS WITH CASH‑UP‑FRONT DURING THE PRODUCTION RESTART PHASE

• WITH NEW SCHEME, QUALIFYING JLR SUPPLIERS WILL BE PAID MUCH FASTER THAN UNDER STANDARD PAYMENT TERMS, AIDING THEIR CASHFLOW IN NEAR TERM

• QUALIFYING JLR SUPPLIERS WILL RECEIVE A MAJORITY PREPAYMENT SHORTLY AFTER THE POINT OF ORDER AND A FINAL TRUE‑UP PAYMENT ON RECEIPT OF INVOICE

• PHASED RESTART OF MANUFACTURING OPERATIONS BEGINS AT EPMC, IN WEST MIDLANDS, UK, ON 8 OCTOBER

Source text: [ID:]

Further company coverage: TAMO.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Katrina Hamlin

HONG KONG, Oct 6 (Reuters Breakingviews) - Jaguar Land Rover's manufacturing has stalled following a devastating cyberattack. But its $30 billion parent Tata Motors' TAMO.NS recently slimmed-down balance sheet means the carmaker can borrow its way out of the crisis without too much stress. It's a surprise validation of corporate India's excessively cautious approach to debt.

The British luxury marque, which accounts for around 70% of Tata Motors' sales, first reported the incident that paralysed its operations in early September. S&P Global Ratings reckons for every week of disruption, Jaguar Land Rover incurs an up to 500 million pound ($672.8 million) hit to revenue. That's equivalent to about 1.4% of the Indian company's annual top line.

The crisis piles on the problems. Jaguar Land Rover's revenue fell 9% year-on-year in the June quarter, due to U.S. tariffs and a tax on ultra-luxury cars in China. That's also a growing headache for Tata Motors which will be more exposed to the British operations after it finishes carving out its Indian commercial vehicles business. Tata Motors' Mumbai-listed shares have plummeted by one quarter in the past one year.

But the stock is up 4% since Jaguar Land Rover's production ground to a halt, perhaps because the parent has ample financing flexibility. The British government has offered a 1.5 billion pound loan guarantee to the unit, which has 34,000 UK workers, with an additional 120,000 employed in the country by companies in its supply chain. The carmaker has also signed a 2 billion pound funding facility from Standard Chartered, Citigroup and Mitsubishi UFJ Financial Group, the Financial Times reported, citing sources. And it is working on a deal to offer loans to its suppliers, per The Sunday Times.

Utilising all those would disrupt Tata Motors' "net-debt zero" goal: net debt would rise to 0.6 times EBITDA in the last fiscal year. Since 2020, Tata Motors has embarked on an aggressive deleveraging campaign. As of March, it had net cash of nearly $600 million, including short-term investments and deposits.

But among major global auto manufacturers, Tata Motors will still have one of the most conservative balance sheets. Indeed, India's deleveraging obsession doesn't make much sense: the cost of equity for auto and truck companies in India is over 16%, more than double the cost of debt, calculatesProfessor Aswath Damodaran at New York University. But India Inc's financial conservatism, borne out of a debt crisis a decade ago, makes facing problems when they arise much easier.

Follow Katrina Hamlin on Bluesky and LinkedIn.

CONTEXT NEWS

Tata Motors' Jaguar Land Rover is working on a deal to lend up to 500 million pounds ($672 million) to its suppliers as the company manages the ongoing fallout from a cyberattack that shut down its production.

Separately, Jaguar Land Rover has secured a 2-billion-pound funding facility from commercial banks, the Financial Times reported on Sept. 30, citing sources. Britain said on September 28 it will back the business with a 1.5-billion-pound loan guarantee.

JLR said on September 29 that it would resume some manufacturing “in the coming days”. It first disclosed the incident on September 2, when it shut down its operations and warned production would be “severely disrupted”.

(Additional reporting by Ujjaini Dutta; Editing by Robyn Mak and Una Galani; Production by Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on HAMLIN/[email protected]; Reuters Messaging: [email protected]))

Oct 3 (Reuters) - National Stock Exchange Of India Ltd NSEI.NS:

• NSE: SPECIAL PRE-OPEN SESSION SHALL BE CONDUCTED FOR TATA MOTORS IN CAPITAL MARKET SEGMENT ON OCT14 9-10 A.M

Source text: [ID:]

Further company coverage: NSEI.NS

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Oct 2 (Reuters) -

• UK BUSINESS SECRETARY APPROVED £1.5BN JLR LOAN GUARANTEE DESPITE CIVIL SERVICE CONCERNS - FT

Source text: https://tinyurl.com/y9tzutyj

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Oct 1 (Reuters) - Indian automaker Mahindra & Mahindra MAHM.NS said on Wednesday that its sales of sports utility vehicles to dealers in September rose 10% year-on-year, after a fall in August, helped by consumption tax cuts and festive demand.

Last month, India’s federal government slashed the goods and services tax (GST) on SUVs with engine capacities above 1500 cc to 40% from an effective rate of 50%, as part of an effort to boost consumption and support growth amid headwinds from trade tensions with U.S.

The revision eased the burden on premium models like Mahindra’s Scorpio and XUV700.

Mahindra said SUV sales during the first nine days of the auspicious Navratri festival, which ran from September 22 to October 1, rose over 60% year-on-year.

The festival months of September to October are also when consumer spending across sectors, from automobiles and electronics to FMCG, rises.

In August, the automaker reported its first decline in SUV sales to dealers in over three years as it awaited the government's decision to lower goods and services taxes.

Market leader Maruti Suzuki MRTI.NS, along with Hyundai India and Tata Motors TAMO.NS, are yet to report their September sales figures.

(Reporting by Yagnoseni Das in Bengaluru)

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Sept 30 (Reuters) - Tata Motors Ltd TAMO.NS:

• TATA MOTORS LTD - INVESTS 1.20 BILLION RUPEES IN FREIGHT TIGER

Source text: ID:nBSE9pbDkC

Further company coverage: TAMO.NS

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Sept 29 (Reuters) - Jaguar Land Rover is taking further steps towards recovery and will return to manufacturing as a phased restart continues after a cyber attack earlier this month, the luxury carmaker owned by India's Tata Motors TAMO.NS said on Monday.

(Reporting by Urvi Dugar; Editing by Sonia Cheema)

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LONDON, Sept 27 (Reuters) - Britain will back Jaguar Land Rover with a 1.5 billion pound ($2 billion) loan guarantee to help support its supply chain in the wake of the luxury carmaker's production shutdown following a cyberattack.

Jaguar Land Rover's shutdown has lasted nearly a month, and the government had been exploring options to support the company and its supply chain, with some small suppliers saying they had one week left at most before they ran out of cash.

The carmaker, which is owned by India's Tata Motors TAMO.NS, has three factories that together produce about 1,000 cars per day, and sustain many jobs in the area around Birmingham, Britain's second biggest city, and the northern city of Liverpool. A survey on Friday showed that some firms were reducing staff hours or making redundancies.

Business minister Peter Kyle said the cyberattack was "not only an assault on an iconic British brand, but on our world-leading automotive sector."

"This loan guarantee will help support the supply chain and protect skilled jobs," he said.

The business ministry said the loan would be privately financed and guaranteed by Britain's export credit agency UK Export Finance, and was expected to unlock 1.5 billion pounds of support for the carmaker's supply chain.

($1 = 0.7463 pounds)

(Reporting by Alistair Smout; Editing by Chizu Nomiyama )

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Sept 26 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- British Prime Minister Keir Starmer has said the government is doing "everything we can" to support Jaguar Land Rover suppliers hit by a cyberattack, adding that ministers were locked in talks over a mechanism to keep dozens of struggling businesses afloat.

The Guardian

- Jaguar Land Rover has restarted a limited number of computer systems after a crippling cyber-attack, but suppliers to the carmaker have told ministers they need financial support from the government within days to prevent permanent closures of parts factories.

The Telegraph

- British artificial intelligence group Nscale has raised$1.1 billion from investors, including Norway's Aker ASA AKER.OL and Finland's Nokia NOKIA.HE, to help accelerate its data centre infrastructure buildout.

- Apple AAPL.O said that European Union users are experiencing delays in new features and facing increased privacy and security risks due to the Digital Markets Act (DMA).

Sky News

- WH Smith SMWH.L buyer Modella is on the brink of a deal to rescue the British operations of Claire's, the accessories retailer, in a deal which is nevertheless likely to trigger scores of shop closures.

The Independent

- Keir Starmer says he is "determined" to reach a deal on U.S. whisky tariffs, but negotiations are ongoing.

(Compiled by Bengaluru newsroom)

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LONDON, Sept 25 (Reuters) - Carmaker Jaguar Land Rover said on Thursday some of its digital systems were back online following a recent cyber attack that has crippled its operations in Britain.

"As part of the controlled, phased restart of our operations, today we have informed colleagues, suppliers and retail partners that sections of our digital estate are now up and running," a company spokesperson said in a statement.

"The foundational work of our recovery programme is firmly underway."

(Reporting by Muvija M and William James; editing by Michael Holden)

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Sept 24 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

- OpenAI, an artificial intelligence start-up, said it would work with Japanese conglomerate SoftBank 9434.T and the cloud computing company Oracle ORCL.N to build computing facilities across the United States.

- Television station groups Sinclair SBGI.O and Nexstar NXST.O said they will not resume airing “Jimmy Kimmel Live!” on Tuesday on their ABC affiliates and will instead run other programming, after ABC parent Walt Disney DIS.N said on Monday that it will resume broadcasting the late-night talk show

- Swedish carmaker Volvo Cars VOLVb.ST said it would expand an existing factory in South Carolina to produce a hybrid vehicle by the end of the decade, as it seeks to cater to American tastes and avoid tariffs.

- Carmaker Jaguar Land Rover is extending the closure of its factories until October 1 following a cyberattack in early September that has left its operations paralyzed and smaller suppliers struggling.

(Compiled by Bengaluru newsroom)

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Sept 23 (Reuters) - JLR:

• JLR: EXTENDED THE CURRENT PAUSE IN PRODUCTION UNTIL WEDNESDAY 1 OCTOBER 2025 - WEBSITE

• JLR: DECISION TO GIVE CLARITY FOR COMING WEEK AS WE BUILD TIMELINE FOR THE PHASED RESTART OF OPERATIONS, CONTINUE INVESTIGATION

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Adds details and background from paragraph 2 onwards

Sept 21 (Reuters) - Stellantis STLAM.MI detected unauthorized access to a third-party service provider's platform that supports its North American customer service operations, the company said in a statement on Sunday.

The automaker said the incident, which is under investigation, exposed only basic contact information and did not involve financial details or sensitive personal data. Stellantis did not specify how many customers were affected.

"Upon discovery, we immediately activated our incident response protocols ... and are directly informing affected customers," the Chrysler parent said in the statement.

It said it had notified authorities and urged customers to be alert to possible phishing attempts.

Automakers worldwide have reported a spate of cyber and data breaches in recent months, as increasingly sophisticated threat actors disrupt operations and compromise sensitive data.

Earlier this month, British luxury carmaker Jaguar Land Rover said that its retail and production activities were "severely disrupted" following a cybersecurity incident, forcing its factories to stay shut until September 24.

(Reporting by Surbhi Misra in Bengaluru; Editing by Muralikumar Anantharaman and Kim Coghill)

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Adds background

LONDON, Sept 19 (Reuters) - Britain's government said on Friday it was working closely with Jaguar Land Rover (JLR) to understand the impacts on the supply chain after a cyber incident at the country's biggest carmaker stopped production more than three weeks ago.

JLR warned earlier this week its factories would stay shut until September 24, after it was forced to stop output in the first few days of the month to contain the hack.

Since then, there has been mounting concern about the financial impact on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country.

The Unite trade union has warned of job losses and said government support would be needed if the stoppage continues.

"The government, including government cyber experts, are in contact with the company to support the task of restoring production operations, and are working closely with JLR to understand any impacts on the supply chain," a joint statement from the government and industry body, the Society of Motor Manufacturers and Traders said.

(Reporting by Sarah Young
Editing by William Schomberg and James Davey)

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Adds company statement in paragaphs 2-3, details throughout

By Sam Tabahriti

LONDON, Sept 16 (Reuters) - Britain's largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its British plants to more than three weeks.

The luxury carmaker, owned by India's Tata Motors TAMO.NS, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations.

Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday. It has told many of its 33,000 staff to stay at home.

"We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time," JLR said in a statement on its website.

There is concern about the financial impact of the stoppage on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country. The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage.

British newspaper The Telegraph reported on Monday that the production shutdown could last until November, although JLR said this was not its position.

JLR has said the incident has affected some data, although it remains unclear whether it involved customers, suppliers or internal systems.

The breach was the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer MKS.L and Co-op have fallen victim to increasingly sophisticated breaches.

The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models.

In July, JLR reported an 11% drop in quarterly sales, partly due to a temporary pause in U.S. shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5%-7%, down from 10%, citing ongoing trade uncertainty.

(Reporting by Sam Tabahriti in London and Pushkala Aripaka in Bengaluru; Editing by Sarah Young, Sherry Jacob-Phillips and Alex Richardson)

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Sept 15 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• SIAM - INDIA'S AUGUST 2-WHEELER SALES 18,33,921 UNITS

• SIAM - INDIA'S AUGUST 3-WHEELER SALES 75,759 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S AUGUST TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,21,840 UNITS

Source text: [ID:]

Further company coverage: ASOK.NS

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Sept 10 (Reuters) - Tata Motors Ltd TAMO.NS:

• JLR - SOME DATA HAS BEEN AFFECTED IN CYBER INCIDENT AND ARE INFORMING RELEVANT REGULATORS - WEBSITE

Further company coverage: TAMO.NS

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By Muvija M

LONDON, Sept 5 (Reuters) - Jaguar Land Rover is working "at pace" to resolve a cyber incident that has severely disrupted its retail and production activities, the luxury carmaker said on Friday, with its factory staff told to stay at home until early next week.

The breach, which the company disclosed on Tuesday, is the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer MKS.L and Co-op have fallen victim to increasingly sophisticated breaches.

Jaguar Land Rover (JLR), owned by India's Tata Motors TAMO.NS, said it took immediate action to mitigate the impact from the incident by shutting down its systems. It reiterated in an emailed statement on Friday that there was no evidence customer data had been stolen at this stage.

"We are now working at pace to restart our global applications in a controlled manner," the statement from JLR, which has three carmaking factories in Britain, said. "Our retail and production activities have been severely disrupted."

Factory staff at Britain's largest automotive employer with around 33,000 employees will stay at home until at least Tuesday.

M&S, which suffered the most high-profile hack this year, estimated the months-long disruption to its business cost it about 300 million pounds ($405.27 million) in lost operating profit.

JLR has already struggled this year, reporting a near 11% quarterly sales drop in July due in part to a temporary pause in U.S. shipments after the U.S. administration of Donald Trump imposed tariffs on all car imports.

While JLR resumed exports to the U.S. in May, it slashed its main profit margin target for fiscal 2026 to 5%-7% from 10% amid continuing uncertainty around U.S. tariff policy. Like its peers, the company has also been battling weak demand in China and slowing sales in Europe.

($1 = 0.7402 pounds)

(Reporting by Muvija M; Editing by Kate Holton and Alexandra Hudson)

(([email protected]; within the UK: +44 7776813338, outside the UK: +91 80 61822698; Twitter: https://twitter.com/muvija_m;))

Sept 4 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

- Shell SHEL.L has scrapped construction of the biofuels facility at its Rotterdam energy and chemicals plant after an in-depth evaluation found it would not be competitive.

- The premier of Canada's Ontario emptied a bottle of Crown Royal whisky on the ground and vowed to "hurt" Diageo DGE.L in retaliation for the closure of a factory in Canada's most populous province as part of efforts to improve North American supply chain.

The Guardian

- A group of English-speaking hackers linked to the Marks & Spencer cyber-attack has claimed responsibility for an attack on Jaguar Land Rover.

- The Scottish government has banned arms companies, which supply the IDF, from getting grants and investment support, and will freeze support for trade with Israel.

The Telegraph

- Hotel tycoon Surinder Arora is in talks with the operators of Dubai, Dublin and Singapore airports as part of his rival expansion plan for Heathrow, which will include a proposed sixth terminal and a shorter third runway.

- British Finance Minister Rachel Reeves said that claims by senior economists that the government could be forced to seek a bailout from the International Monetary Fund were not credible.

Sky News

- Cosmetics group Lush has shut its UK shops, website and factories in protest at the Israeli government "preventing urgent humanitarian assistance from entering Gaza".

- RedBird Capital Partners has formally notified the Department for Culture, Media and Sport of the details of its takeover of the Daily and Sunday Telegraph.

The Independent

- The British Conservatives have called for HM Revenue and Customs (HMRC) to investigate British Deputy Prime Minister Angela Rayner after she admitted to not paying the correct stamp duty on her flat.

(Compiled by Bengaluru newsroom)

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