NEW DELHI: Tata Group-owned luxury carmaker Jaguar Land Rover (JLR) declared on Monday that it is now on its way to becoming a net zero carbon company by 2039, with a large scale electrification of its portfolio in the works. First, the company’s Jaguar line of cars will turn into an all-electric brand by 2025.
The carmaker will also welcome six electric variants of Land Rover SUVs over the next five years, with the first all-electric variant Land Rover to arrive in 2024. To achieve this goal, JLR will invest 2.5 billion pounds ($3.5 billion) a year into electrification and related technologies.
Part of the company’s Reimagine strategy, the announcement comes at a time when Tesla, the world’s most valuable car company, is expected to set-up a factory in Bengaluru. Elon Musk’s all-electric brand has already taken a giant lead in the EV race, forcing legacy carbrands to play catch-up.
JLR will also curate closer collaboration and knowledge-sharing with Tata Group companies. “The Reimagine strategy takes JLR on a significant path of acceleration in harmony with the vision and sustainability priorities of the wider Tata Group,” said N Chandrasekaran, chairman, Tata Sons in a statement.
“We have so many ingredients from within. It is a unique opportunity... Others have to rely solely on external partnerships and compromise, but we have frictionless access that will allow us to lean forward with confidence and at speed,” added JLR Chief Executive Officer Thierry Bolloré.
According to the firm, it is “on a path towards double-digit EBIT margins and positive cash flow, with an ambition to achieve positive cash net-of-debt by 2025”. By 2030, in addition to 100 per cent of Jaguar sales, JLR anticipates that around 60 per cent of Land Rovers sold will be with zero tailpipe powertrains.