Jaguar Land Rover is committing £15bn across the next five years to invest in autonomous driving, AI and vehicle electrification.
Aside from autonomous driving, Jaguar Land Rover’s spending includes transitioning its Halewood plant in Merseyside to producing all-electric vehicles. The plant will house production for an electric Range Rover launching in 2025.
“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,” said Adrian Mardell, CEO of Jaguar Land Rover.
The automotive maker’s plans are to achieve net cash positive by FY25 and a double-digit EBIT by 2026.
The automotive maker will rename its Engine Manufacturing Centre, located in Wolverhampton, to the Electric Propulsion Manufacturing Centre, shifting to the production of electric drive units and battery packs.
In February, Jaguar Land Rover announced plans to open three self-driving hubs and hire 100 engineers.
“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,” added Mardell.
Jaguar Land Rover revealed it will be producing three new Jaguars in Solihull, West Midlands including a 4-door GT. The GT is expected to have the most power output ever in a Jaguar and a range of up to 430 miles.
It recently invested in vehicle heads-up displays startup Envisics’ £42m round. Vehicles from the company are being used in a grocery delivery trial between the supermarket Asda and Wayve.