Jaguar Land Rover (JLR) announced on April 19 that it would increase its investments in electric vehicles (EVs) in pursuit of global competitors, with the British luxury automaker promising the release of its first electric Jaguar by 2025.
According to a company press release, Tata Motors of India, which owns JLR, will invest £15 billion ($19 billion) in electric vehicles over the next five years.
Previously, the automaker had stated that it would invest £2.5 billion annually in electrification.
Legacy Western automakers are challenged to electrify quickly, particularly in China, where the game is accelerating and price competition is intensifying.
JLR stated that its Halewood plant in northwest England would shortly become an all-electric facility.
The automaker also announced it will release a new all-electric Range Rover SUV in 2025, with order books opening later this year.