0:00
Why have this British chipmaker's shares
0:02
sunk after Jaguar's cyber attack? In
0:04
Silica, a British chipmaker is feeling
0:06
the aftershock of a cyber attack. Their
0:08
connection to Jaguar Land Rover has made
0:10
them vulnerable, causing their shares to
0:12
drop as much as 14% in a day. The cyber
0:15
attack has shaken Jaguar's supply chain,
0:17
and although Encilica hasn't officially
0:18
named Jaguar, no other major car makers
0:21
have reported similar attacks. In
0:23
Silicon has adjusted its revenue
0:24
forecast to 28 to30 million pounds, a
0:27
significant drop below expectations.
0:29
With the automotive contract valued at
0:31
over30 million, this disruption is a
0:33
serious blow. Jaguar Land Rover's
0:35
production halt since August has
0:37
worsened the supply chain crisis and
0:39
Silica is just one of many feeling the
0:41
pinch. The attack led to late payments
0:43
and reduced orders, creating a domino
0:46
effect that's hard to ignore. Jaguar's
0:48
own financial lifeline includes a 1.5
0:50
billion pound loan attempt and a
0:52
separate 500 million pound supplier
0:54
financing scheme. But can these efforts
0:56
salvage the supply chain stability? As
0:58
production restarts, we might soon see
1:00
the real cost of this cyber attack on
1:02
the automotive sector.
