Jaguar Land Rover to invest Rs 153 cr in 5 yrs to introduce new models
Tata Motors-owned Jaguar Land Rover on Wednesday said it will invest 15 billion pounds (about Rs 153 crore) over the next five years to enhance its industrial footprint, introduce new models and to bolster technology in its range.
The British brand said its Halewood plant in the UK will become an all-electric production facility and its next generation medium-size SUV architecture, electrified modular architecture (EMA), will now be pure-electric.
JLR Chief Executive Adrian Mardell reaffirmed the business' commitment to its Reimagine strategy, which will reposition the company as an electric-first, modern luxury carmaker by 2030, as the automaker makes stride towards its financial goals of achieving a net cash positive position by FY25 and double-digit EBIT by 2026.
"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