LONDON — Jaguar Land Rover is seeking government aid package to weather a collapse in car sales brought on by the coronavirus pandemic, reports said.
The U.K.-based automaker is in talks to borrow more than 1 billion pounds ($1.2 billion) through the British government’s emergency lending program, Bloomberg and Sky News reported, citing people familiar with the matter.
JLR is also seeking tax breaks, research grants and other subsidies, which could bring the total value of the state support to more than 2 billion pounds, one of the people told Bloomberg.
The full amount is still being negotiated and no decisions have been made, the person said.
JLR is seeking temporary state funding of “well over” 1 billion pounds, Sky News reported on Saturday. A JLR spokesman told Sky News that suggestions that the amount was as high as 2 billion “inaccurate and speculative.”
The automaker said it is in “regular discussion with government on a whole range of matters,” declining to provide…