Pi News –
For all the hype surrounding electric vehicles (EVs), JLR now has to adjust its ambitions as demand for such vehicles cools.
According to a report from Automotive News Europe, CEO Adrian Mardell said JLR is “working hard” to make plug-in hybrids (PHEVs) more available in its lineup now that electric models are being extended.
In 2021, JLR said it aims to produce six electric Land Rover models by 2026. Now it says it plans to build just four, plus a few electric Jaguars.
“We’re a little bit slower than what we said three years ago,” Mr. Mardell said on the Feb. 2 earnings call.
But Mr. Mardell also pointed to cooling demand for EVs.
“What you’re seeing from other OEMs is that the BEV race is starting to stumble a little bit,” Mr. Mardell said.
Last year, JLR experienced the biggest increase in PHEV sales of any carmaker across Europe.
According to Automotive News Dataforce, the British brand’s PHEV sales are up 68 percent year-over-year to 45,224 in 2023.
PHEVs will account for 7.7 percent of European vehicle sales in 2023, according to the European Automobile Manufacturers Association.
Electric vehicles nearly doubled their market share at 14.6 percent, with hybrids trailing them at 25.8 percent.
“The uptake of the PHEV has been very surprising,” Mr Mardell said in response.
“We are working in the interim to introduce more PHEVs to the market,” he added. The brand has previously struggled to overcome supply chain issues.
While JLR may be racing to produce enough PHEV models to meet the somewhat sudden demand, the company is still working on its planned BEV models.
JLR said the waiting list for the Range Rover Electric was 16,000 before pricing was announced. JLR CFO Richard Molyneux said the price of the new model would be high enough to maintain the company’s improved profit margins.
In addition to the aforementioned Range Rover Electric, JLR is also reportedly planning an electric Range Rover Sport that will share the MLA’s architecture.
The company’s next Range Rover Evoque and Velar and Land Rover Discovery Sport are expected to use the EV-only electrified modular architecture (EMA).
The platform, previously touted as an electric platform, also supports internal combustion engines and plug-in hybrid powertrains, “to meet the needs of different markets around the world, which are moving at different speeds towards net-zero carbon goals.” “.
The first cars based on the EMA will start production from the end of 2024, and the second-generation Range Rover Velar will be the first (electric) cab. However, whether this goal will be achieved remains to be seen.
The brand has previously confirmed that it aims to completely phase out internal combustion engines by 2039.
The Jaguar brand is ready to move to an electric engine very quickly.
By 2025, Jaguar’s entire lineup will be rolling out a series of new EVs while repositioning itself as a more exclusive brand.
According to Autocar, the upcoming Jaguar lineup will consist of a Bentley Bentayga-sized flagship SUV, a four-seat grand tourer and a flagship sedan.