Jaguar Land Rover is preparing for an electric future with plans to invest $18.7 billion over the next five years in electric and autonomous vehicle technology.
What would James Bond drive?
Yes, we all know about the Aston Martin DB5 that first appeared in 1964’s Goldfinger with the machine guns, the bullet-proof windows, and that most incredible passenger ejector seat that we all secretly wish we had.
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But 007 was also known to drive a Land Rover, beginning with 1983’s Octopussy and most recently in 2020’s No Time to Die, where the iconic super spy with a license to kill was seen tooling around Port Antonio in Jamaica in a Land Rover Series III.
Last year the automaker built a one-off Defender 90 to celebrate the 60th anniversary of the Bond film franchise.
The vehicle came with black and gold stickers with the 007 60th logo on the roof and sides, while each of the 25 James Bond film titles were listed on the hood and tailgate.
JLR Accelerating Electrification
There was no mention of an ejector seat.
The company has gone through many changes over the decades and now Jaguar Land Rover, or JLR as it is now called, is entering a new phase as the British automobile manufacturer plans for an electric future.
JLR said it will invest £15 billion, or about $18.7 billion, over the next five years in electric and autonomous vehicle technology.
CEO Adrian Mardell reaffirmed JLR’s plan to reposition the company as an electric-first, modern luxury carmaker by 2030.
“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,” Mardell said in an April 19 statement.
Mardell, who started with the company in 1990 and was formerly the automaker’s chief financial officer, said the company had to navigate “the headwinds of the pandemic and chip shortages” to implement its strategy.
JLR said it will start to invite applications for client orders for the modern luxury all-electric Range Rover from later this year.
Electric Range Rover to Launch in 2025
The first of its next generation medium-size modern luxury SUVs will be an all-electric model from the Range Rover family, launching in 2025, the company said, and it will be built using JLR’s electrified modular architecture.
The vehicle with go for about £100,000 or $125,000.
The company’s Halewood factory in Merseyside, which opened in 1963 as a Ford plant will become JLR’s first all-electric car facility.
The Engine Manufacturing Center in Wolverhampton will be renamed Electric Propulsion Manufacturing Center.
The company, which is owned by India’s Tata Motors (TTM) – Get Free Report, also announced its “House of Brands” strategy that will split JLR into four separate brands: Range Rover, Discovery, Defender and Jaguar.
Earlier this month, JLR reported increased sales for the fourth quarter and the full financial year, reflecting what the company called “a continuation of the gradual improvement in chip and other supply constraints.”
Retail sales for the fourth quarter totaled 102,889 units, up 21% from the prior quarter and up 30% compared with the same quarter a year ago.
JLR is scheduled to report fourth quarter and full-year results next month.
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This story was originally published April 25, 2023, 8:00 AM.
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