Tata Motors Passenger Vehicles' subsidiary Jaguar Land Rover (JLR) is planning to launch five products in the next two years, the company said in an exchange filing on Wednesday, June 17.
The upcoming launches include Range Rover Electric, Range Rover Sport Electric and Jaguar Type 01, followed by new additions to the Range Rover and Defender brands on JLR's new Electrified Modular Architecture (EMA).
JLR CEO PB Balaji 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."
Tata Motors PV also announced JLR's aim to post double-digit revenue growth by giving markets and customers on its Range Rover and Defender models.
The filing read, "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."
The company also aims to focus in the North America market. "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," Tata Motors PV said. Additionally, JLR would also continue to invest and in "future high potential markets" including India and the Middle East region, it said.
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