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Get to know about the significant increase in Jaguar Land Rover Automotive's planned five-year investment, now totaling £18 billion. Get insights into the development of the Jaguar F-Pace and Land Rover Discovery in the UK.
Key Highlights:
Tata Motors has announced a significant increase in its five-year investment plan for Jaguar Land Rover (JLR) to €18 billion for fiscal years 2024 to 2028. This is a notable rise from the previously planned €15 billion. The investment will focus on the development of electric vehicles (EVs) and hybrid models, aligning with JLR's "Reimagine" strategy.
Jaguar Land Rover Automotive, a subsidiary of Tata Motors in the UK, will see its planned five-year investment increase by £3 billion, or 20%, to a total of £18 billion (approximately INR 1.91 lakh crore). The initial plan was to invest £15 billion in the development of the Jaguar F-Pace and Land Rover Discovery between FY24 and FY28. This increase in investment was revealed in a JLR investor presentation.
The increased funding will be directed towards the development of internal combustion engine (ICE), hybrid, and battery electric vehicles (BEVs). JLR's "Reimagine" strategy emphasizes electrification, with a significant portion of the product development budget over the next four years being allocated to BEVs.
Despite the increased investment, JLR expects to maintain a strong return on capital employed (RoCE). The RoCE was 21.3% in FY24 and is projected to be around 22% in FY25. Additionally, JLR aims for an EBIT (earnings before interest and tax) target of 10% for FY26, up from 8.5% in FY24. This growth is anticipated to be driven by new products, operational efficiency, and brand investment.
In a separate announcement, Tata Motors disclosed that JLR has signed a letter of intent with China's Chery Automobile Company. This agreement aims to license the Freelander brand to their 12-year-old joint venture, CJLR, to develop electric vehicles in China.
Tata Motors' increased investment in JLR underscores its commitment to advancing electrification and hybrid technology. The collaboration with Chery Automobile further expands JLR's footprint in the electric vehicle market, particularly in China.
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