U.K. Carmakers Form United Front to Save Suppliers From Brexit
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Carmakers including Jaguar Land Rover and Nissan Motor Co. have joined with lenders to create a network to protect the industry’s supply chain from succumbing to Covid-19 and a no-deal Brexit.
Under the so-called safe harbor plan, suppliers in financial difficulty can lean on carmakers for improved payment terms, and lenders will be called upon to step in with financial assistance, according to the Society of Motor Manufacturers and Traders, which is organizing the network.