British automaker Jaguar Land Rover (JLR) says its Jaguar luxury brand will be fully electric in 2025. Meanwhile, its Land Rover brand will launch its first all-electric vehicle in 2024, the first of six all-electric models planned to launch in the next few years. five years. The JLR transition will be financed by an investment of £ 2.5 billion (about $ 3.5 billion) per year in electrification and related technologies, Bloomberg reports.
JLR’s plans are ambitious, but the automaker was slow to embrace electrification. The only fully electric car so far is the Jaguar I-Pace SUV, which Bloomberg notes has struggled to make inroads against more established electric car makers. Even so, the car is built by a contractor, instead of being produced by JLR in-house. The company had to pay a fine of £ 35 million (about $ 48.7 million) in the EU for failing to meet last year’s emissions targets.
The advantage of JLR is that Jaguar is still a premium car brand, allowing it to charge the high prices necessary to cover the cost of modern batteries. It also plans to share more technology with parent company Tata Motors to reduce development costs.
If everything goes according to plan, JLR expects that all Jaguars and 60% of Land Rovers sold will be zero-emission vehicles by 2030, the year in which its domestic market, the United Kingdom, will ban the sale of new vehicles with a combustion engine internal. JLR expects to achieve net zero carbon emissions by 2039. Bans on vehicles with an internal combustion engine have been announced with a variety of targets around the world, as in Norway in 2025, France in 2040 and California in 2035.