The luxury car maker has set a number of targets with the ultimate goal of being a net zero carbon business by 2039.
All Jaguar cars will be electric by 2025, according to auto manufacturer Jaguar Land Rover.
The British car maker said it will be only manufacturing electric cars under the Jaguar brand within the next five years with a similar objective in place for its Land Rover brand by 2030. The first all-electric Land Rover is expected in 2024.
The move is a considerable one for Jaguar Land Rover to make but it is following a similar course as the rest of the auto industry, which is leaving petrol and diesel in the rear-view mirror.
Chief executive officer Thierry Bolloré said that between now and 2025, Jaguar “will have undergone a complete renaissance to emerge as a pure electric luxury brand”. The changes were announced as part of its ‘Reimagine’ strategy.
“Reimagine will see us transition to being an electric-first business, by the end of the decade we will have achieved that goal, name plate by name plate, every model will be available with full-battery power,” he said.
“We intend to phase out diesel from 2026 and we will achieve zero tail pipe emissions by 2036.”
The company added that it will become a net-zero carbon business by 2039 and will invest in hydrogen fuel cell technology.
“Together we will design a new benchmark in environmental, societal and community impact for luxury business,” Bolloré said.
As a luxury carmaker, Jaguar Land Rover has a higher threshold to pass to make its cars profitable compared to other carmakers. Full electrification is, for now, a more expensive manufacturing process but the company has little or no choice in the matter as more and more countries set targets for banning new diesel and petrol cars from the roads. The UK is aiming to ban the sale of new combustion-engine cars by 2030.
Jaguar Land Rover recently reported quarterly revenues of £6bn with pre-tax profits of £439m. Revenue was up from the previous quarter, but still down compared to pre-Covid levels.