Jaguar is Charging Ahead in the EV Race with Huge Investments, this one Being $2.9 Billion

Jaguar, a well-established luxury legacy automaker, holds the distinction of being the first to introduce an electric crossover to the American market. Back in October 2018, the I-Pace EV, a product of this British car giant, was delivered to its inaugural US customer. With 394 horsepower from a dual motor setup and an EPA-rated range of 234 miles per charge, the I-Pace was a force to be reckoned with upon its launch.

The Fast charging will enable the car to have 200 miles of range ready in 15 minutes

However, in the evolving landscape of electric vehicles (EVs), Jaguar’s once standout electric crossover started to lose its initial appeal. Contemporary rivals began to challenge and surpass the I-Pace in terms of cost, driving range, charging speeds, and performance, resulting in a decline in Jaguar’s EV sales.

This did not spell an end to Jaguar’s electric ambitions, though. On the contrary,the I-Pace laid the foundation for a new wave of electrification for Jaguar. The automaker recently unveiled plans to inject a hefty £2.25 billion ($2.9 billion) into its EV programs. This investment will pave the way for a new high-end sports sedan, boasting a range of around 400 miles, coupled with enhanced fast-charging capabilities, able to achieve 200 miles of range in a mere 15 minutes.

Jaguar’s chief creative officer, Gerry McGovern, stated that the forthcoming EVs from Jaguar would embody four key attributes: exuberance, fearlessness, uniqueness, and progressiveness. “Jaguars need to have a jaw-dropping moment, a sense of wow,” he said during an interview with Autocar.

This announcement followed Jaguar Land Rover‘s (JLR) commitment in April to invest $16.5 million into various programs, encompassing AI, autonomous driving, manufacturing facility upgrades, and more. The message from Jaguar is clear: they are fully invested in the future of electric mobility.


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