Jaguar / Land Rover JLR TO INVEST £15 BILLION OVER NEXT FIVE YEARS

• Investment of £15bn over five years in JLR’s industrial footprint, vehicle programmes, autonomous, AI and digital technologies and people skills
• JLR’s Halewood plant in Merseyside, UK, to become an all-electric manufacturing facility
• JLR’s Engine Manufacturing Centre in Wolverhampton, UK, to be renamed Electric Propulsion Manufacturing Centre
• JLR reaffirms Reimagine strategy, with new House of Brands approach to accelerate delivery of modern luxury vision
• Next generation medium-size SUV architecture to be pure-electric
• Pre-order books to open for first all-electric Range Rover later this year
• First of three reimagined modern luxury electric Jaguars will be a 4-door GT built in Solihull, UK

Gaydon, UK, Wednesday, 19 April 2023: JLR today announced exciting plans to accelerate its transition to become the world’s leading modern luxury car manufacturer revealing 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.
In an update to global media at JLR’s centre in Gaydon, Chief Executive Officer Adrian Mardell reaffirmed the business’s commitment to its Reimagine strategy, which will reposition the company as an electric-first, modern luxury carmaker by 2030, as JLR makes strides towards its financial goals of achieving a net cash positive position by FY25 and double-digit EBIT by 2026.

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[Matski]

I wonder if this is something to do with the £500 million agreed investment from the Government, and possibly the further grant to Tata of £300 million...

 

[Centurion]

I wonder if this is something to do with the £500 million agreed investment from the Government, and possibly the further grant to Tata of £300 million...

There are plenty of EV, battery and greenwashing grants. However they are peanuts compared with the investment required to develop and scale up the production of an entirely new lineup of EVs.

 

[Matski]

There are plenty of EV, battery and greenwashing grants. However they are peanuts compared with the investment required to develop and scale up the production of an entirely new lineup of EVs.

I was somewhat sarcastically referring to the decision to do it at these locations rather than move it abroad as they've been considering.

I don't think Tata has much choice but to either invest in, sell off, or pull the plug on JLR product portfolio.