Jaguar Land Rover (JLR), renowned for producing exceptional SUVs like Range Rover, Defender, and Discovery under the esteemed Land Rover brand, as well as crafting luxurious Jaguar vehicles, has set its sights on a remarkable milestone. During the investor’s day meetup of JLR stakeholders held on 12th June 2023, the anticipated portfolio of JLR unveiled five new electric cars laying the stone for a prosperous future, JLR envisions achieving a revenue surpassing £28 billion in the fiscal year 2024.
Tata Motors recently, invested £4 billion in the UK to establish a state-of-the-art electric vehicle (EV) battery plant, (gigafactory) in Britain. This transformative project can be the potential reason behind JLR’s commitment to introduce five electric Cars by 2025. This initiative will create thousands of job opportunities across the supply chain, exemplifying the positive impact on the country’s automotive industry.
British Prime Minister Rishi Sunak has warmly lauded this milestone as a moment of immense pride for the nation’s automotive sector. He emphasized that the Tata Group’s decision to invest in the UK underscores the strength and vitality of the country’s car manufacturing industry, bolstered by its highly skilled workforce.
As part of this groundbreaking venture, Tata Motors, which owns the esteemed UK-based Jaguar Land Rover, will act as the anchor customer for the new gigafactory. The initial output of 40GWh is slated to be one of the largest in Europe, marking a monumental step forward for the region’s electric vehicle ecosystem.
The production at this cutting-edge gigafactory is scheduled to commence in 2026 and is poised to play a pivotal role in Prime Minister’s vision to boost and expand the UK economy. The establishment of this state-of-the-art facility aligns perfectly with the government’s commitment to driving sustainable growth and fostering innovation in the automotive sector.
A resounding declaration was made regarding a substantial investment of £15 billion over five years, devoted to the advancement of electrification and digital innovation. In line with its visionary aspirations, the company is set to usher in a new era of sustainable manufacturing at its revered Halewood plant in the United Kingdom.
Here’s the roadmap of investing £15bn in EVs:
However, the story isn’t limited to the marvelous devotion of Jaguar Land Rover, while digging for the facts, we came across Jaguar Land Rover will be launching five New Electric Cars by 2025 instead of Four and this hasn’t been made public yet.
The four promised models under the name “Refocus 2.0” that the company will be making are-
How will this move benefit?
The collaboration of JLR with Tata Motors will help in the technology transfer of the modern vehicles market. The company might expand tier wise tier in other markets as well.
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