Tata Motors subsidiary Jaguar Land Rover (JLR) to invest $15 billion in EVs by FY2025
Luxury car enthusiasts, get ready to be electrified! British carmaker Jaguar Land Rover (JLR) has just announced its plan to invest a whopping $19 billion in electric vehicles over the next five years.
JLR CEO Adrian Mardell revealed that the Halewood plant in Merseyside, UK, will be transformed into an all-electric manufacturing facility.
Words by the CEO of JLR
Today I am proud to announce we are accelerating our electrification path, making one of our UK plants and our next-generation medium-size luxury SUV architecture fully electric.
New looks of Jaugar and prices?
The first electric model from JLR i.e, Jaugar will have a 4-door GT which will be built in the UK. The vehicle will boost a range of 700kms and will be priced at around €100,000.
Plans of JLR
JLR’s announcement regarding the $15 billion investment in electric vehicles reflects the company’s dedication to meeting its financial targets of achieving a net positive cash position by FY25 and double-digit EBIT (earning before interest and taxes) by 2026.