JLR plans an electric future with massive £15 billion investment
Tata Motors-owned Jaguar Land Rover (JLR) announced on Wednesday that it would invest £15 billion (₹1,52,895 crore) over a span of five years to boost its electrification programme.
This announcement is in line with the ‘Reimagine’ strategy that was unveiled by the company in 2021. The strategy is supposed to reposition the company as an electric-first, luxury carmaker by 2030. The ‘Reimagine’ strategy had planned to invest £2.5 billion every year into electrification and related technologies of both the Jaguar and Land Rover brands. With this new announcement, the amount has now been raised to £3 billion per year for the next 5 years.
JLR plans to invest this £3 million on industrial footprint, vehicle programmes, autonomous, AI and digital technologies, and people skills for the next five years. The company also said that their Hazelwood plant, located in northwest England, would be upgraded to an all-electric manufacturing facility soon. Another engine manufacturing facility in Wolverhampton will soon be equipped to produce drive units and battery packs for next-generation JLR vehicles. To reflect the change, it will now be known as the ‘Electric Propulsion Manufacturing Centre’.
Jaguar Land Rover also plans to launch a 100 per cent electric Land Rover by the year 2025; bookings for that vehicle are expected to commence later this year. The company also announced that its next-generation medium-size SUV architecture, which is called the ‘Electrified Modular Architecture (EMA),’ will be pure electric.