New Delhi: Tata Motors’ Jaguar Land Rover (JLR) today announced plans to unlock double- digit revenue growth by giving markets and customers more choice through greater propulsion flexibility on its Range Rover and Defender models and refocusing its strategic intent on the North America market.
In an update to investors at its headquarters in Gaydon, UK, Chief Executive Officer PB Balaji will outline the next delivery phase of JLR’s Reimagine strategy, which will focus on maximizing the strength of the company’s House of Brands, growth and building resilience.
JLR is targeting medium-term double-digit revenue growth by leveraging its House of Brands strategy to cater to different customer segments and diversify its sources of growth.
The company also reconfirms its existing five-year commitment to invest £18bn in future technologies, vehicle platforms and transformation by FY29 (starting FY24), as it drives growth in a flexible propulsion, software and AI defined era.
Increasing propulsion flexibility across JLR’s House of Brands
Range Rover
Range Rover is the original, luxury SUV and one of the world’s leading British luxury brands.
Range Rover and Range Rover Sport, built at Solihull, will remain on the flexible modular longitudinal architecture (MLA) producing MHEV, PHEV and full BEV vehicles with the launch of Range Rover Electric and Range Rover Sport Electric later this year.
JLR will reveal more on its first electric model built on its EMA platform at Halewood, Merseyside, later this year, from the Range Rover brand.
In a move that recognises demand for increased choice in global markets and reaffirms JLR’s commitment to the future of the UK car industry, the upcoming EMA model from the Range Rover brand is planned to provide flexibility in the future through a full hybrid electric vehicle (HEV) propulsion offering.
The HEV will be a unique new addition to JLR’s propulsion portfolio, offering more choice alongside mild hybrid electric vehicle (MHEV), plug-in hybrid electric vehicle (PHEV) and full battery electric vehicle (BEV) options.
Defender
The Defender brand currently comprises three global products (90, 110, and 130) and is JLR’s best-seller. Production of Defender continues at JLR’s state-of-the-art production facility in Nitra, Slovakia.
A new model from the Defender family has been confirmed as the second vehicle to be launched on the EMA platform, which will now include the option of HEV as well as BEV in the future.
As recently announced, JLR has signed a non-binding memorandum of understanding (MOU) with Stellantis to explore opportunities to collaborate on product and technology development in the US.
JLR today confirms it will focus on the Defender brand to deliver its growth aspirations in the US market as part of its collaboration with Stellantis, exploring new opportunities targeted at North American clients.
Discovery
Discovery invented the family SUV segment and has been looking after families for more than 35 years. It is the best-selling JLR product ever with over 2 million vehicles sold since it was first produced in 1989.
Discovery has a distinct place in JLR’s portfolio, with plans to evolve but stay true to its roots as a truly aspirational and ingenious lifestyle brand – designed for real life, well lived. It will be brought into the future with propulsion flexibility and innovations in product design with announcements on confirmed plans to come.
Jaguar
As an iconic British brand, Jaguar recently celebrated its 90th anniversary and has been radically reimagined to be a distinctive, bold and aspirational brand.
Jaguar will become JLR’s uniquely electric brand manufactured in the heart of the UK at Solihull. Jaguar’s new luxury four-door GT – Type 01 – will be revealed later this year. It offers exuberant design, pioneering technology and a refusal to compromise on the distinctive design and dynamic characteristics that mark all iconic Jaguars.
Focusing on North America as a growth engine
Alongside its key markets in the UK, Europe, and China, JLR will focus on the US as a priority growth region to cater to the extensive and increasing luxury opportunity there by designing exclusive offerings for that market and also strengthen its supply chain resilience.
PB Balaji, JLR CEO, said: “As we enter a critical business delivery phase of our Reimagine strategy, launching five new products over the next two years across our incredible House of Brands, now is also the time to evolve our plan to offer global markets greater propulsion choice to unlock growth and build resilience.
“To truly manifest the power of our brands, we will increase our focus on North America, our biggest market. The rising demand for luxury products coupled with the strong preference we see for our brands signals significant growth potential. Apart from accelerating our existing offerings, we are also exploring new high potential segments for our Defender brand, which will allow us to offer tailored luxury products and experiences for even more of our US clients. Our aspiration, in the coming years, is to grow our US business to the size of the entire JLR business as it exists today,” he added.
JLR would also continue to invest and grow in future high potential markets including India and the Middle East region.
