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Tata Motors' British subsidiary Jaguar Land Rover has announced a £15 billion investment over 5 years to boost the company's electrification program.
In early 2021, JLR launched its "Reimagine strategy" wherein the company detailed several plans for its future. The company took on a House of Brands strategy where it had 4 major brands: Range Rover, Discovery, Jaguar & Defender.
According to the strategy, the company plans to reduce greenhouse emissions by 54% by 2030 and become Carbon net zero by 2039. It plans to launch six purely electric models by 2026, starting with an electric Range Rover model in 2024.
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The company would modify its Halewood plant in Merseyside, UK, to make it an all-electric car plant. Moreover, a £15 billion (approx. Rs 1.5 lakh crores) investment would also help to improve the company's position in the industry, AI, Digital Tech and people skills.
Moreover, the company also plans to upgrade its manufacturing facility in Wolverhampton to manufacture electric drive units and battery packs for the upcoming EVs while renaming the plant 'Electric Propulsion Manufacturing Centre'.
However, the company is slow in its uptake as several competitors like Audi and BMW have already launched their EVs. In a fully electric future, JLR has begun its investment in
The stock of Tata Motors saw a partial gap today as investors cheered the company's EV push. At the time of reporting, the stocks of Tata Motors were trading around Rs 475.10 per share, up 1.2%.
- Aman Agarwal.
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