19 April 2023: Jaguar Land Rover (JLR) has revealed its “Reimagine” strategy to increase its footprint in the luxury electric vehicle market by investing £15 billion over the next five years in the development of its manufacturing operations.
The investment will involve enhancing electrification capabilities in all of JLR’s manufacturing facilities in the UK, with the Halewood plant in Merseyside being transformed into an all-electric production facility. JLR’s next generation medium sized SUV architecture will also be electric, and an all electric medium sized SUV from the Range Rover family, will be launched in Halewood in 2025.
JLR has announced its plans to transform its Wolverhampton Engine Manufacturing Center into the Electric Propulsion Manufacturing Center, where it will manufacture electric drive units and battery packs for its forthcoming line of vehicles. The automaker will also enhance its production capabilities across the EV value chain.
The plan aligns with the automaker’s Reimagine strategy, which aims to transform the company into a luxury carmaker with a primary focus on electric vehicles by 2030. This move will enable JLR to attain its financial objectives of becoming net cash positive by FY25 and achieving a double digit EBIT by 2026.
In an official press release by JLR, Adrian Mardell, Chief Executive Officer stated, “Two years ago, we launched our Reimagine strategy and since then we have made great progress, including launching two new critically acclaimed modern luxury Range Rover and Range Rover Sport models, joining the Defender family, for which there is record demand. We achieved this while navigating the headwinds of the pandemic and chip shortages, and successfully ramping up production of our most profitable models to deliver profit in Q3. Today I am proud to announce we are accelerating our electrification path, making one of our UK plants and our next-generation medium-size luxury SUV architecture fully electric. This investment enables us to deliver to our modern luxury electric future, developing new skills, and reaffirming our commitment to be carbon net zero by 2039”.
This investment marks a significant milestone in the company’s commitment to sustainability and electrification. With its renewed commitment to carbon neutrality by 2039, JLR is setting a positive example for the automotive industry to follow.