Jaguar Land Rover’s premium brand Jaguar will be fully electric by 2025 and the carmaker will unleash its entire line-up of e-models by 2030, it said on Monday, as it entered the global race to produce zero-emission cars.
Owned by Indian Tata Motors, JLR has announced that its brand Land Rover will launch in the next five years six pure electric models, the first of which will arrive in 2024.Popular for its classic, high-performance E-Type platform in the 1960s and 1970s, Jaguar faces the same challenge as many other automotive manufactures – making the transition to electric cars while maintaining the feel and strength of a luxurious combustion engine model.
JLR said that it would keep all three of its British plants open while it electrifies its range. “It’s time to re-imagine the next chapter for both brands,” said Chief Executive Thierry Bollore.
Shares in Tata Motors grew by as much as 3% after the declaration.
JLR said its electrical designs for Jaguar would be based on its Solihull factory, but scrapped plans to develop the XJ, the brand’s signature full-size sedan, at its Bromwich Castle facility in central England.
In September, Bollore, who took over as CEO, said the Castle Bromwich plant would now concentrate on long-term ‘non-production’ operations. He’s included a few details.
JLR said it would invest about 2.5 billion pounds ($3.5 billion) annually on electrification technology and the production of connected car services.
The organization has said that it was investing in the production of hydrogen fuel cells in expectation of a possible change to hydrogen-powered cars.
The carmaker will have prototypes using hydrogen fuel cells on Britain’s roads within the next year, it said, as part of a long-range investment plan.
The carmaker will have hydrogen fuel cell prototypes on Britain’s roads in the coming year, it added, as part of a long-range investment program.
Bentley Motors, the premium vehicle company owned by Germany’s Volkswagen, announced that its product portfolio would be entirely electric by 2030 in November, and General Motors Co <GM.N> announced last month that it intends to have a zero-emission fleet by 2035.
Bans on new fossil-fuel car purchases have already been announced by a number of nations. The ban could take place in the United Kingdom in 2030.
JLR reported that it was “on the path to” a double-digit operating profit and free cash flow and plans to generate positive cash excluding debt by 2025.