According to sources, Jaguar is focusing all of its efforts on becoming a more formidable competitor in the electric vehicle arena, and may be relying on its current ICE models to keep it afloat for the next few years.
If you’re thinking of waiting for a brand new Jaguar model to spruce up your garage, one word of advice: don’t. According to reports, Jaguar has no plans to introduce any new models until at least 2025, the date set for the brand’s full electric transition.
According to a report in France’s Le Monde, Jaguar is devoting all of its resources to creating its completely electric lineup in order to gain a larger share of the battery-powered mobility market. The business now offers the well-received I-Pace, but with rivals such as Mercedes-Benz, Audi, BMW, and even Volvo continuing to provide more and more electric models, the pressure on Jaguar to keep up may be stronger than ever.
Meanwhile, Jaguar will have to continue supplying its existing models to global customers for the next few years, according to the article. It’s a risk, but the company could be betting on the fact that practically every significant model it sells has recently been updated.
Jaguar’s electric push is part of the company’s previously disclosed ‘Reimagine’ plan. The strategy comprises two electric crossovers and a two-door coupe in the next five years, and is widely regarded as a fairly ambitious plan of action. However, things aren’t looking so well for Jaguar Land Rover, which has confirmed that it plans to lose 2,000 employees.
However, many appear to recognise the necessity to move upscale in order to openly compete with Tesla and the Germans. When it comes to electric cars, Tesla currently has a commanding lead over the competition. Volkswagen is making strenuous efforts to catch up, while Ford and GM are battling for third place. Then there are the German luxury brands, such as Hyundai, Toyota, and Volvo, all vying for a bigger piece of the pie.