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Street positive on JLR's electric vehicle strategy, sales outperformance

Higher volumes needed to offset the near term pressure on financials

Devangshu Datta

Premium

Photo: Shutterstock

3 min read Last Updated : Apr 20 2023 | 10:35 PM IST

Listen to This Article

After reporting strong wholesale numbers for the fourth quarter of the 2022-23 financial year (Q4FY23), Tata Motors’ subsidiary, JLR, has now released information above its plans to go electric as well as changes in its brand strategy. Since JLR generates over 80 per cent of the consolidated revenues for the company, these are crucial.

JLR will spend $18.68 billion over five years to push its electric vehicle (EV) strategy, as well as on autonomous technology, artificial intelligence (AI) and digital technologies, among others. The management has guided for a capex of $3.11 billion for FY24, increasing to $3.74 billion for FY26.

The Halewood plant in Merseyside, UK, will become all electric, and Engine Manufacturing Centre in Wolverhampton, UK, where it designs its internal combustion engines, will become the electric propulsion manufacturing centre. JLR is also adopting a new House of Brands (HoB) approach as part of its Reimagine strate

Topics : JLR Tata Motors Tata Motors JLR Electric Vehicles Jaguar Land Rover Compass

First Published: Apr 20 2023 | 9:02 PM IST

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