JLR plans to unlock double‑digit revenue growth by giving customers more choice through greater propulsion flexibility on its Range Rover and Defender models.
Targeted cost savings are planned for material cost, warranty and fixed costs, underpinning JLR’s aim to drive £1.7bn of savings and return breakeven volumes towards 300,000 vehicles in the next two years.
P.B. Balaji, Chief Executive Officer, said: “To truly manifest the power of our brands, we will increase our focus on North America, our biggest market. The rising demand for luxury products coupled with the strong preference we see for our brands signals significant growth potential.
“Apart from accelerating our existing offerings, we are also exploring new high potential segments for our Defender brand, which will allow us to offer tailored luxury products and experiences for even more of our US clients.
“Our aspiration, in the coming years, is to grow our US business to the size of the entire JLR business as it exists today.”
The next delivery phase of the Reimagine strategy involves launching five new products over the next two years.
JLR will reveal more on its first electric model from Range Rover built on its EMA platform at Halewood, Merseyside, later this year.
The upcoming EMA model will provide flexibility in the future through a full hybrid electric vehicle (HEV) propulsion offering. The HEV will be a unique new addition to JLR’s propulsion portfolio.
A new model from Defender has been confirmed as the second vehicle to be launched on the EMA platform, which will now include the option of HEV as well as BEV in the future.
Discovery will be brought into the future with propulsion flexibility and innovations in product design with announcements on confirmed plans to come.
JLR will focus on the US as a priority growth region to cater to the extensive and increasing luxury opportunity there by designing exclusive offerings, strengthening its supply chain resilience.
JLR has signed a non‑binding memorandum of understanding (MOU) with Stellantis for collaboration on product and technology development in the US.
The company also reconfirmed its existing five‑year commitment to invest £18bn in future technologies, vehicle platforms and transformation by FY29 (starting FY24).
