JLR eyes strategic partnership for electric switch

Tata Motors-owned Jaguar Land Rover (JLR) is open to the idea of a strategic partner for Jaguar after having decided to convert the iconic brand into an ‘electric only’ range by 2025. This is aimed at both reducing the time to market and building economies of scale.“We need to look at the opportunities in terms of architectures that we could utilise or we find to give us a type of stunning, jaw-dropping design, or it may be that we might actually develop a platform internally to deliver these products that are drop-dead gorgeous,” JLR CEO Thierry Bollore told investors Friday. “I want to say, the choice of the platform has to respect the proportion of designs that are going to be proposed to us.”Under the new roadmap “Reimagine”, JLR expects to double the pace of expansion (4.5% compounded annual growth rate) between FY20 and FY26 compared with a CAGR of 2.8% in the last six.It has set a target of attaining 30 billion (Rs 3 lakh crore) of turnover by FY26, which would take Tata Motors’ group revenue to Rs 4 lakh crore in the next five years.The company is right-sizing production by 25% in the next five years and will take a write-off of Rs 15,000 crore within a quarter for shelving past projects.JLR will invest Rs 1.25 lakh crore in the next five years to carve a space for itself in the luxury car space.Better revenue growth, coupled with margin improvement from the ‘Refocus’ initiative and new architectures should result in an operating profit margin (EBIT) of 10% in FY26, compared with 4% in the first half of FY21.81265024

from Economic Times https://ift.tt/3uESFcP
via IFTTT