Jaguar Land Rover (JLR), a subsidiary of Tata Motors, has pledged to invest $19 billion towards its electric vehicle (EV) push. The move comes as part of the company’s efforts to phase out petrol and diesel vehicles from its portfolio.
As per the plan, JLR will launch its first all-electric Jaguar model in 2025. This will be followed by the entire Jaguar lineup becoming electric by 2030. Meanwhile, Land Rover will introduce six pure electric models over the next five years.
The investment will go towards research and development, as well as the creation of new manufacturing facilities. The company aims to achieve net-zero carbon emissions across its supply chain, products, and operations by 2039.
JLR’s CEO, Thierry Bolloré, said that the company is committed to shaping the future of mobility. He added that the investment in EVs will create thousands of jobs and help the company achieve its sustainability goals.
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The move is seen as a major step towards Tata Motors’ commitment to carbon neutrality by 2050. As part of this, the company aims to generate 100% of its energy from renewable sources by 2030.
Tata Motors has been making significant strides in the EV space. In January 2020, the company launched its first EV, the Nexon EV, in India. It has since launched the Tata Tigor EV and the Tata Altroz EV.
Further, the company’s latest investment in JLR’s EV push is in line with the global trend towards cleaner energy and reducing carbon emissions. Several automakers, including General Motors and Ford, have pledged to go all-electric in the coming years.
JLR’s announcement comes at a time when the UK government is set to ban the sale of new petrol and diesel cars from 2030. This, coupled with the increasing demand for EVs, makes the move towards electric vehicles a necessity for automakers.
