Jaguar Land Rover (JLR) has announced that it will be investing £15 billion in electric vehicles (EVs) over the next five years. This move is part of the company’s plan to become a fully electric brand by 2025. As part of this investment, JLR will be launching a new all-electric Jaguar model in 2025.
JLR has been focusing on EV development for some time now, and it has already announced that it will be investing £2.5 billion a year in electrification. This new investment is aimed at accelerating the company’s transition to an all-electric future. One of the main reasons for this move is the fierce competition in the EV market, particularly in China.
Luxury vehicle manufacturers like Mercedes and BMW are also investing heavily in electrification, and BMW has announced plans to deliver 11 new electric models in China by the end of 2023. JLR is facing stiff competition from these companies, and the new investment is aimed at helping the company stay ahead of the game.
New All-Electric Range Rover SUV
As part of its investment in EVs, JLR has announced plans to launch a new all-electric Range Rover SUV in 2025. The company has also revealed that it will be opening orders for the vehicle later that year. The new model will be produced at the company’s factory in Solihull, England.
In addition to the new Range Rover, JLR is also expected to launch two other electric models, although no date has been set for these releases. The company is clearly committed to making a full transition to electric vehicles, and these new models are a clear sign of this commitment.
Profitable Sales and Chip Supply
JLR has been making significant strides in recent months, and the company recently reported profits for the first time in two years. The profits are largely due to increased demand for its luxury vehicles, as well as the supply of semiconductor chips.
In the third quarter, JLR posted a profit of £265m thanks to record 215,000 unit sales of its three most profitable models: the New Range Rover, Range Rover Sport, and Defender. These sales figures are a clear indication that the company’s focus on luxury vehicles is paying off.
With new models set to be released over the next few years, JLR is clearly focused on staying ahead of the competition and meeting the growing demand for electric vehicles around the world. As the EV market continues to grow, it will be interesting to see how JLR continues to innovate and develop new technologies to stay ahead of the curve.
