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Jaguar predicts 60% sales will come from electric vehicles by 2030 – EQ Mag Pro

Jaguar predicts 60% sales will come from electric vehicles by 2030 – EQ Mag Pro

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Automaker Jaguar Land Rover forecast the company’s electric vehicle sales to be approximately 27 per cent globally by the financial year 2025-26.

New Delhi: Automaker Jaguar Land Rover forecast the company’s electric vehicle sales to be approximately 27 per cent globally by the financial year 2025-26, before rising to above 60 per cent by the end of this decade. In the financial year 2021-22, just 3 per cent of the total sales were pure-electric vehicles, the auto company stated in its annual report for 2021-22.

“The transition to an electric future is integral to our sustainability strategy. Over the next four years, Land Rover will welcome six all-electric variants, with the first arriving in 2024. In this time, Jaguar will have undergone a complete renaissance, emerging as a pure-electric modern luxury brand from 2025,” JLR said.

Between 2020 and 2030, it aims to reduce emissions by 46 per cent across vehicle manufacturing and logistics, and by 54 per cent per vehicle, from purchased goods, services, and use of products.

“The company delivered a resilient performance during the year despite a fall in revenues by reducing their breakeven levels to 320,000 units. While production and sales remained significantly constrained, the business continued to see strong demand for its products, with global retail orders at record levels thanks to strong demand for Defender and New Range Rover,” said Chairman Natarajan Chandrasekaran.

Over the next four years, Land Rover will welcome six all-electric variants across two architectures, which will help the company to meet unprecedented policy shifts and an exponential rise in customer demand for electric vehicles across its key markets.

With growing concerns about extreme weather events due to climate change, sustainability is at the core of almost every company operating in the manufacturing sector. India, too is leading in this initiative.

At the COP26 summit at Glasgow in late 2021, Indian Prime Minister Narendra Modi committed to an ambitious five-part “Panchamrit” pledge, including reaching 500GW of non-fossil electricity capacity, to generate half of all energy requirements from renewables, to reduce emissions by 1 billion tons by 2030.

India also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.

During an event last week, CEO NITI Aayog Parameswaran Iyer highlighted that rapid development of the electric vehicle ecosystem, increased participation from the industry, international collaboration, and supportive government policies will bolster India’s EV adoption to grow exponentially over the next decade.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network