Luxury car brand Jaguar says it will phase out internal combustion engines and go fully electric by 2025.
Jaguar Land Rover, which is owned by Indian conglomerate Tata Motors, hopes the move will help turn around the fortunes of the 86-year-old luxury brand.
Both of its namesake brands – Jaguar and Land Rover – will offer pure electric power by 2030.
The company plans to welcome six pure electric variants of Land Rover in the next five years, including the first all-electric Land Rover model in 2024.
“We have all the ingredients at our disposal to reimagine the business and the experiences our customers seek, to reimagine to benchmark of luxury,” chief executive Thierry Bollore told the Associated Press.
In addition to 100 per cent of Jaguar sales going electric, the company expects that about 60 per cent of Land Rovers sold will be equipped with zero tailpipe powertrains.
Jaguar Land Rover aims to achieve net zero carbon dioxide emissions across its supply chain, products and operations by 2039.
The move has been welcomed by British Transport Secretary Grant Shapps as “a huge step for British car manufacturing”. British Prime Minister Boris Johnson also backed the move.
The company expects to achieve positive cash net-of-debt by 2025 with a value creation approach delivering quality and profit-over-volume.