Hyperdrive
Jaguar Land Rover Is Dependent on Diesel. It Wants to Change That
- British automaker boosts investment to $18 billion over 3 yrs
- All U.K. plants will be retooled for electric car production
An employee connects a charging cable to the Jaguar Land Rover Automotive Plc I-Pace electric vehicle (EV) at the EV Trend Korea exhibition in Seoul, South Korea, on April 12.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Jaguar Land Rover is raising investment by about a quarter over the next three years as part of a plan by the diesel-dependent automaker to be able to offer electric versions of all its models.
Britain’s biggest carmaker, owned by India’s Tata Motors Ltd, will invest a total of 13.5 billion pounds ($18 billion) worldwide during the period, according to a presentation to investors Monday. That’s a 26 percent increase from 10.7 billion pounds over the three previous years through March 2018.