The Jaguar Land Rover company will focus on making electric vehicles as part of a new vision of “modern luxury by design,” Chief Executive Officer Thierry Bollore said.
The new plans are are part of a project to become a net-zero carbon business, including its brands, by 2039.
The British company will spend 3.4 billion dollars a year to develop what it is calling the “Reimagine” project, with all Jaguar and Land Rover models available in an electric form by the end of the decade.
Jaguar will become an electric-only firm from 2025 and the production of the first all-electric Land Rover is expected in 2024.
For Jaguar, the manufacturer aims to create a luxury sustainable vehicle by the middle of the decade with a new portfolio of engaging designs.
The Land Rover brand will welcome six pure electric variants as it continues to be a “world leader” of luxury sports utility vehicles. The first electric variant is expected to arrive in 2024.