Jaguar to Produce Only Electric Vehicles Starting in 2025

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Jaguar Land Rover (JLR) is transforming into an electric vehicle company.

On the 15th (local time), according to major foreign media, JLR announced the 'Reimagine' plan to achieve carbon neutrality (net zero) throughout the entire process of automobile production and sales by 2039.

Accordingly, from 2025, all Jaguar brand models will be replaced with electric vehicles. Land Rover will launch six electric vehicle models over the next five years, with the first model debuting in 2024.

To transform into an electric vehicle company, JLR plans to invest $3.5 billion (approximately 4 trillion won) annually in technology development and related services.

The stock price of Tata Motors, the Indian owner of JLR, rose 3% to 335 rupees on the day.