Jaguar Land Rover (JLR), a wholly-owned subsidiary of Tata Motors, is poised to transition into all-electric luxury vehicles, with the first new vehicles scheduled for 2025, chairman N Chandrasekaran told shareholders in the company’s annual report 2022-23. He stressed that the British automaker would be transformed into a “modern luxury car business”.
Chandrasekaran pointed out that the brand had to face a difficult business environment in the last financial year, which included a shortage of electronic components such as semiconductors and other energy supplies following the Russo-Ukraine war. This has also led to a struggle with inflationary pressures.
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He informed that the company’s efforts to address supply chain challenges are starting to bear fruit. This has enabled the brand to increase production of the new Range Rover, Range Rover Sport and Defender models. Addressing shareholders, Chandrasekaran said: “Under the circumstances, I am delighted that the company is well on track with its transformation and will become a modern luxury car business with sustainability at its core.”
In terms of its electric journey, JLR’s interim chief executive Adrian Mardell said the company aims to launch all-electric versions of its Range Rover, Defender and Discovery ranges in the coming years. The company will start taking preorders for the all-electric Range Rover later this year.
Mardell also revealed that the first of the company’s three new Jaguar designs will be a 4-door GT with a range of up to 700km. More details on the new Jaguar’s design will be released later this year, when the models go on sale in select markets in 2024 and customer deliveries in 2025, he added.
(input from PTI)
First published date: Jun 12, 2023 at 10:56 AM CST