JLR requests £1 billion Government support package - reports
Jaguar Land Rover has asked the Government for a £1 billion loan, according to reports.
The news comes as the country's automotive sector faces declining car sales amid the coronavirus pandemic.
According to reports in The Guardian, talks are ongoing with the Department for Business, Energy and Industrial Strategy for the support package. Sky News reported that the requested loan was in excess of £1bn.
Jaguar Land Rover has an engine manufacturing plant at the i54 Business Park, in Coven, Wolverhampton. It restarted its engine production at the plant earlier this month at a reduced capacity.
JLR's Solihull plant, which manufactures the cars, has also begun operating again.
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In response to the reports, a Jaguar Land Rover spokesman said: "We are in regular discussions with government on a whole range of matters and the content of our private discussions remains confidential."
JLR said claims that the firm is seeking to close to £2bn is inaccurate and speculative.
The Government said it does not comment on conversations with individual firms but a spokesman 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."
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