Jaguar Land Rover aims to spend £2.5bn annually on electrifying its range as it strives to become a net zero company by 2039
All cars built under the Jaguar brand will be fully electric by 2025, Jaguar Land Rover (JLR) has announced, as the UK-based automotive firm today unveiled its new strategy to become a net zero business by 2039.
The car brand, which is owned by Indian conglomerate Tata Motors Group, said all of its Jaguar sports cars would be fully-electric within four years, as it unveiled plans to spend around £2.5bn annually on electricfying its range and developing connected vehicle services.
JLR also plans to launch six pure-electric models under its Land Rover brand before 2025, although it said it would continue to offer hybrid Land Rovers featuring internal combustion engines alongside batteries until 2036.
The accelerated decarbonisation strategy was laid out today by JLR’s new CEO Thierry Bolloré – the French businessman and former Renault CEO – who took at the helm in July.
He said the £2.5bn annual investment would help establish in-house electric car manufacturing expertise at JLR. The firm’s only existing pure electric model – the Jaguar I-Pace SUV – is currently built in Austria by a contractor.
The firm also plans to invest in developing hydrogen fuel cells, with an aim for its first prototypes to be driving on Britain’s roads within the next year, he added.
“As a human-centred company, we can, and will, move much faster and with clear purpose of not just reimagining modern luxury but defining it for two distinct brands,” said Bolloré. “Brands that present emotionally unique designs, pieces of art if you like, but all with connected technologies and responsible materials that collectively set new standards in ownership. We are reimagining a new modern luxury by design.”
JLR’s announcement places it among a raft of other car manufacturers preparing to make the shift to electric vehicles ahead of anticipated legislation to phase out the use of fossil-fuelled vehicles, with the UK government aiming to ban sales of new petrol and diesel powered passengers cars by 2030. Recently, luxury car brand Bentley said its range would be fully electric by 2030, while US giant General Motors also announced last month plans to offer a zero-emission lineup of car models by 2035.
Read more: businessgreen.com