Jaguar Land Rover (JLR), a subsidiary of Tata Motors, has vowed to transform its portfolio into an all-electric one in four years. The company makes sports cars and off-road sport-utility vehicles (SUVs).
“The new ‘Reimagine’ strategy will enable the British automaker to post double-digit operating margin—earnings before interest and taxes (Ebit)—and achieve positive cash flow in four years,” said JLR CEO Thierry Bollore.
The company plans to drive its electrification plans, develop connected services, and data-centric technologies for its luxury vehicles, as per a report by Mint. As part of the new strategy, Jaguar will be repositioned and redesigned as an all-electric luxury car brand by 2025. Land Rover will also evolve as a maker of luxury electric SUVs with six pure electric variants of its Range Rover, Discovery and Defender models set to be launched in five years.
Electric vehicles (EVs) will make up 60% of Land Rover’s annual sales by 2030 and JLR will cease production and sales of combustion engine vehicles by 2036 as part of an overarching aim to become a ‘net zero carbon business’ (carbon neutral) by 2039.
“We will reimagine Jaguar as a pure luxury EV brand with a new portfolio of emotive designs and next-generation technologies. We will reinforce Land Rover’s lead in luxury SUV segment with the purity of electrification. Two brands, two distinct personalities, connected by the elements of quality and sustainability that underpin JLR’s future of modern luxury by design," Bollore said in a virtual press meet.
