Jaguar the luxury brand of car manufacturer Jaguar Land Rover has announced that its cars will go all electric by the year 2025. The company will also launch its entire electric car model lineup by 2030.
The company made this announcement on February 15 immediately after joining the global race of manufacturing zero-emission vehicles.
Tata Motors Ltd (NSE: TATAMOTORS) the mother company of Jaguar Land Rover said JLR will unveil six electric car models in the next five years. The first Jaguar’s EV model will be launched in 2024.
Chief executive of JLR Thierry Bollore said the company will keep open all the three factories it has in Britain as it electrifies its range. “It’s time to re-imagine the next chapter for both brands,” added the CEO.
Following the announcement shares of Tata rallied by 3%.
JRL says it will direct its electric car plans at its Solihull plant, it also cancelled plans to build XJ at its Castle Bromwich facility in central England.
The CEO said the Castle Bromwich will rather focus on non-production activities in the long run. He also added that the company will be spending around 2.5 billion pounds ($3.5 billion) each year to put on electrification technologies.