JLR confirms Range Rover EV on way
Leaked transcripts of calls between Jaguar Land Rover (JLR) and its investors have finally confirmed a full pure-electric Range Rover is on the way with a reveal set for the end of this year.
The much-rumoured Range Rover EV will share plenty with the next-generation Jaguar XJ will be revealed in October and November, later than the August and September originally planned, reports Autocar who has seen the leaked documents.
Set to be based on JLR’s all-new MLA architecture, the Range Rover EV is tipped to be an even sportier take on the current Velar, with a lower more streamlined profile, although size-wise it should be similar in length.
As well as mechanically similar, the new member of the Range Rover family will be built at Jaguar’s Castle Bromwich plant along the same production line as the Jaguar XJ.
No other details were revealed to the JLR stakeholders, other than to say a new product dubbed ‘MLA MID’ has been delayed by the global pandemic.
On the call JLR’s chief financial offer Adrian Mardell revealed that work on the next-gen full-size Range Rover and Range Rover Sport replacement hadn’t been affected by COVID and were still on track, although the senior exec confirmed the car-maker would cut it future investment in new models by £3bn ($A5.4bn) – £1bn ($A1.8bn) more than before.
This, said Mardell would be achieved by cutting the number of derivatives on future models.
Further restructuring and the switch to a single platform would also help the car-maker ‘thrive’ on volumes of slightly less than 500,000 units per year.
Before the pandemic struck, JLR was selling around 550,000 cars annually – a sales figure Mardell claimed the car-maker could return and even surpass 600,000 units, where JLR will be ‘highly profitable’.
In the future, the JLR’s CFO revealed the car-maker had ambitions to increase annual Defender sales to hit 100,000.
Finally, Mardell told investors that JLR warranty costs fell by a sizeable £107 million ($A190m) year-on-year, revealing a breakthrough in reliability and quality levels.