JLR to invest £15bn in electric vehicles
By Michele Maatouk
Date: Wednesday 19 Apr 2023
(Sharecast News) - Jaguar Land Rover said on Wednesday that it plans to invest £15bn in electric and autonomous vehicles over the next five years.
The car maker's Halewood plant in the UK will become an all-electric production facility and its next generation medium-size SUV architecture, electrified modular architecture (EMA), will now be pure-electric.
JLR said the first of its next generation medium-size modern luxury SUVs will be an all-electric model from the Range Rover family, launching in 2025 and built at Halewood.
In addition, the first of three reimagined modern luxury Jaguars will be a four-door GT built in Solihull. The new car will have a range up to 700 kms (430 miles), and prices will start from £100,000. More details on the vehicle will be released later this year, before it goes on sale in selected markets in 2024, for client deliveries in 2025.
Chief executive Adrian Mardell said: "Two years ago, we launched our Reimagine strategy and since then we have made great progress, including launching two new critically acclaimed modern luxury Range Rover and Range Rover Sport models, joining the Defender family, for which there is record demand.
"We achieved this while navigating the headwinds of the pandemic and chip shortages, and successfully ramping up production of our most profitable models to deliver profit in Q3.
"Today I am proud to announce we are accelerating our electrification path, making one of our UK plants and our next-generation medium-size luxury SUV architecture fully electric. This investment enables us to deliver to our modern luxury electric future, developing new skills, and reaffirming our commitment to be carbon net zero by 2039."
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