Jaguar Land Rover plans to increase its investment into electrification for future electric cars by 25 percent, the automaker said in an investor presentation Monday.
The added investment will see the figure climb to $ 18 billion total by 2025, Bloomberg reported. JLR cited poor demand for diesel cars in Europe as the catalyst for the increased investment.
The automaker was one of many to previously announce that future vehicle portfolios would move to a fully electrified lineup. JLR said last September each of its cars would offer an electrified variant after 2020.
“We will introduce a portfolio of electrified products across our model range, embracing fully electric, plug-in hybrid and mild hybrid vehicles,” CEO Ralf Speth said then.
The plans will shift slightly with the new investment, however. Rather than a simple mix of electrified vehicles, JLR plans to offer three distinct versions of its future vehicles: a gasoline-powered version, a hybrid, and a purely electric vehicle. It’s unclear if the hybrid variant will take the form of a traditional hybrid or a plug-in hybrid car. It’s a strategy Volvo also plans to implement.
Things may change if demand doesn’t follow battery-electric car production, though. A JLR spokesperson told Bloomberg it would only offer a fully electric version of each model if there is enough customer demand.
Jaguar’s first electric car, the I-Pace crossover SUV, will aim to take on the Tesla Model X with a 240-mile estimated range. Following our brief time in the vehicle, we were impressed by its style, substance, and zero interior gimmicks.