Someday Corporate Executives Will Take Security Seriously

But that day will not come in 2025. Jaguar Land Rover to resume some production after major cyber attack | The Independent

This story is from Monday, October 29th.

Jaguar and Land Rover (together they form JLR) used to be two iconic British luxury car brands. Even before they tried to emulate Bud Light, but in the automotive space, they had been acquired by the Indian company, Tata Motors.

JLR got hacked at the end of August. They have been unable to produce cars for weeks. They are at a complete standstill. It is crushing their suppliers, and hammering Tata stock.

Jaguar Land Rover (JLR) has said it will resume some manufacturing production in the “coming days” as it continues to deal with the fallout from a major cyber attack.

The British government has moved to shore up the company, because it is a large part of what is left of UK auto manufacturing.

Over the weekend, the government agreed to provide a £1.5bn loan guarantee to JLR, in an effort to protect companies in its supply chain as well as the major manufacturer itself.

Tata outsourced security to themselves, in the form of Tata Consultancy. This hasn't worked well. Why Jaguar Land Rover cyberattack puts Tata Consultancy Services under renewed scrutiny.

The JLR hack will be the third such massive cyberattack among TCS’ customers. Previously, Marks & Spencer and the Co-op,two of TCS' British customers had suffered attacks this year

They don't play baseball in the UK, so the idea of "three strikes and you're out," doesn't apply.

While the full extent of the financial and reputational damage remains unclear, analysts say the episode underscores the rising vulnerability of industrial firms to cyber threats, even as they deepen digital integration across global operations.

Not that the Corporate Suites around the world will notice. "You IT folks always want to spend money on something! No one will break into our systems!"

Tata Group is not the first corporation to be hit by a cyberattack, and they won't be the last. And this isn't the biggest attack, but it is substantial. Moody’s flags prolonged impact of JLR cyberattack, cuts Tata Motors outlook to negative.

Moody’s estimates the halt will slash Tata Motors’ consolidated EBITDA to around $850 million for FY25-26, down from its earlier forecast of about $3 billion.

Say that again. This will cut revenues by more than $2 billion. EBITDA is Earnings before interest, taxes, depreciation and amortization. It is a standard item calculated for businesses, and can be useful while evaluating companies in capital intensive industries.

So what is ahead for JLR? It is hard to say, since they are planning to convert to all electric, and buyers of luxury cars and SUVs have stated pretty clearly that they do not want all electric versions of those vehicles. Add to that their recent "rebrand," which reminded everyone of Bud Light, and I don't think the future is bright.