U.K. Guarantees Jaguar Loans After Pledge to Make Electric Cars

Jaguar Land Rover Automotive Plc won a 500 million-pound ($626 million) loan guarantee from the U.K. government, just over a week after announcing a new range of electrified cars will be made at a plant in central England.

The guarantee to JLR by the U.K. Export Finance agency was granted to support the design, manufacture and export of electric cars, Prime Minister Theresa May said after a round-table meeting of auto-industry representatives in Downing Street on Monday.