The investment will go into 99 product programme of JLR which include model year updates, new-gen models, new EV products and four new brands
Globally, JLR is the fourth largest luxury brand in sales as the company is not able to beat German trio on a straight fight. But in EV segment, Jaguar is the only brand which is taking the fight against Tesla as German brands are still some time away with their products. The company is planning to capitalize on the first mover advantage in EV segment.
JLR announced that the company is going to invest Rs. 1.2 Lakh Crore in next three years and this is the biggest investment of the company in its history as they want to maintain the gap to German manufacturers in EV segment and close down the gap in regular models which are powered by combustion engines.
The investment will go into 99 product programme of JLR which include model year updates, new generation of current models, new EV products and four new brands which include i-Pace and Defender family, so we can expect JLR to reveal two new brands in next three years but the company hasn’t given much information about the new brands.
One of the areas JLR is focusing are vehicle platform as they have 6 right now and want to reduce it to 3 platform which could be achieved using modular vehicle platform. JLR future small SUV’s will be based on premium transverse architecture and modular longitudinal architecture for EVs. Like German brands, all future products will be developed for combustion engines and electric powertrain which is important for the success of future products.
Also Read : Jaguar I-Pace Platform Could Spawn Out More EVs
JLR is expecting petrol cars sales to drop by 50 percent and diesel by 30 percent in coming years as battery electric vehicles and plug-in hybrid models demand will increased by 20 percent, while EV models are still sometime away from getting good sales figures as they are expensive compared to regular models or even hybrid variants.
The company is focusing on SUV to drive growth moving forward and sales of SUVs will account for 52 percent of the overall luxury space. JLR is also focusing on emerging markets as there are lots of potential to be explored. We can expect this aggressive strategy of JLR to pay off in the next 3-5 years.