Jaguar Land Rover to Spend £15 Billion on EVs and Autonomous Tech
- Carmaker to produce at least two models at UK plants
- JLR plans to be net cash-flow positive, double digit returns
The plan includes turning JLR’s UK Halewood plant into an all-electric facility.
Source: Jaguar Land Rover
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Jaguar Land Rover will invest £15 billion ($18.7 billion) over the next five years on developing electric cars as well as autonomous-driving features as part of its drive to ditch combustion engines and catch up with rivals.
The plan includes turning JLR’s UK Halewood plant into an all-electric facility, with the first medium-sized battery Range Rover model due in 2025, the unit of Tata Motors Ltd. said Wednesday. The announcement is the first detailed roadmap from the automaker, two years after initial moves on EV investments and the decision to reinvent Jaguar as a electric-only brand.