Luxury car boss hopes going green can see Jag well in the black
Jaguar has pledged to spend £15 billion over five years to develop a selection of electric vehicles, according to reports.
The new figure amounts to double their previous investment levels in the technology and will see the car manufacturer make changes to a number of its British factories.
Jaguar’s Merseyside Halewood plant will become an all-electric manufacturing facility, with their factory in Wolverhampton being renamed ‘Electric Propulsion Manufacturing Centre,’ according to reports originally published in the Financial Times.
CEO Adrian Mardell, who took over last November, told the paper that a decision to build a battery factory in the UK or Spain was “imminent.” According to reports, this decision will be taken by parent company Tata Motors.
Speaking at JLR’s Gaydon Centre today, Mardell reaffirmed the company’s commitment to its “Reimagine strategy,” which aims to see the firm hit zero emissions by 2039.
Adrian Mardell, Jaguar’s CEO, said “today I am proud to announce we are accelerating our electrification path, making one of our UK plants and our next-generation medium-size luxury SUV architecture fully electric.”
“This investment enables us to deliver to our modern luxury electric future, developing new skills, and reaffirming our commitment to be carbon net zero by 2039.”
Jaguar were contacted for comment.