JLR investing £15bn in EVs

Carmaker Jaguar Land Rover has announced plans to accelerate its transition to fulfil an ambition to become the world’s leading modern luxury car manufacturer, revealing its Halewood plant will become an all-electric production facility and its next generation medium-size SUV architecture, electrified modular architecture (EMA), will now be pure-electric.

In an update at JLR’s centre in Gaydon, Chief Executive Officer Adrian Mardell reaffirmed the business’s commitment to its “Reimagine” strategy, which will reposition the company as an electric-first, modern luxury carmaker by 2030, as JLR makes strides towards its financial goals of achieving a net cash positive position by FY25 and double-digit EBIT by 2026.

“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,” Mr Mardell said.

“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.”

Announcing news of its next generation electrification roadmap, JLR confirmed it will start to invite applications for client orders for the modern luxury all-electric Range Rover from later this year. 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 Merseyside, in a move that further affirms JLR’s commitment to the future of the UK car industry.

(Picture – JLR)

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