Jaguar Land Rover Plc, the British multinational automotive giant majority owned by Tata Motors Ltd., said on Monday that its flagship luxury Jaguar brand line-ups would be entirely electrified by 2025 and the British carmaker was mulling an option to launch electric models of its entire line-up by 2030, becoming the latest in a string of automotive industry giants to jump on the bandwagon of a global race to develop fossil-fuel free vehicles.
Apart from that, Jaguar Land Rover Plc., India’s Tata Motors Limited-owned holding company of Jaguar Land Rover Ltd., had also added at its statement that the British luxury carmaker’s Land Rover brand would roll out as many as six entirely electric models over the next five years, while the carmaker was expecting to roll out its first electric car by 2024.
In point of fact, latest transmutation from Jaguar Land Rover, widely cherished for its iconic and high-performance models back in the 1960s and 1970s, came against the backdrop of a growing challenge for a swathe of carmakers which had been scuffling to vent out a way to making a swift shift to e-vehicles while retaining the feel and power of a combustion engine model, while Jaguar Land Rover would highly likely to face off the same challenge, suggested several industry analysts.
Jaguar brand to shift full-electric by 2025, Tata shares surge
On top of that, followed by the announcement, shares’ prices of India’s NSE-listed Tata Motors Limited gained as much as 3 per cent and wrapped up the day 2 per cent higher to 331.90 Indian Rupees per share.
Apart from that, adding that Jaguar Land Rovers would keep all three British plants open while transforming to a fully electrified line-up over the coming years, the Company Chief Executive Thierry Bollore said to the reporters, “It’s time to re-imagine the next chapter for both brands.
” Besides, a spokesperson for Jaguar said that the carmaker planned to spend around £2.5 billion per year on e-vehicle technologies and development of connected vehicle services.