Many of you I suspect will have read about the recent paralysing cyberattack on Jaguar Land Rover (JLR). While it has never been confirmed to my knowledge that JLR is an EnSilica customer they may be the the one referred to in these FT.com and EnSilica.com articles based on rumours I am aware of…
If that’s the case then using a basic calculation ($40m divided by 72 months i.e. six years) could make for about a £415,000 hit to revenue (and a significant percentage of profits I suspect) for each month of lost production. Hopefully that is the worst case scenario and the true figure is far less.
Whatever the situation, I am confident JLR will reinstate production before too long and as someone currently committed to EnSilica for the coming years I will ride out any volatility over the coming months should the annual report anticipated next month paint an ugly picture. It may even present an opportunity to top up!
EDIT: FYI… after some digging I am now confident in the opinion that JLR is EnSilica’s customer. Some of the dots joined up include…
– Analysis of the image in the original press release from EnSilica in 2022 that did not mention the company‘s name but did feature a JLR production line. For example this is confirmed by an article in the JLR imagery in The Times today – link below.
– JLR is a premium brand and the 2022 press release correlates with that.
– The ASIC in question for the 2022 press release is for chassis control chips and the FT article for an additional contract in 2023 is also for chassis control chips with a premium brand.
Business live: Jaguar Land Rover aims for partial restart ‘in the coming days:
https://www.thetimes.com/article/fe132247-f861-43e5-aee9-607bd4c96b4b
