Struggling luxury car brand Jaguar will be fully electric by 2025, the British company said Monday as it outlined a plan to phase out internal combustion engines.
Jaguar Land Rover, which is owned by Indian conglomerate Tata Motors, hopes the move will help turn around the fortunes of the 86-year-old Jaguar brand, which for many epitomizes class but has struggled in recent years, theAPreports. The company also said that the far more profitable Land Rover brand will produce its first all-electric model in 2024 as it, too, phases out internal combustion engines.
"We have all the ingredients at our disposal to reimagine the business and the experiences our customers seek, to reimagine the benchmark of luxury," Bollore said.
The move was welcomed by British Transport Secretary Grant Shapps as "a huge step for British car manufacturing." The Society of Motor Manufacturers and Traders, the British car industry's lobby group, said the announcement represents "an injection of confidence" into the sector, which has suffered over the past year during the pandemic. The SMMT's chief executive, Mike Hawes, said the shift "aligns with government ambition and increasing consumer expectations," but warned that the UK will need to improve its competitiveness in light of the "fierce" global competition going on in the shift to electric cars, not leastfrom the likes of Tesla.