Jaguar Land Rover India plans to launch ten product-related initiatives in the current portfolio, including the launch of a new generation model and the launch of updated versions, to consolidate its position in the luxury car segment, according to the company’s chief executive.
The automotive company, owned by Tata Group, recently launched its fully operational electric SUV PACE in the domestic market.
“We want to strengthen our position in the market with ten steps of a solid product designed for FY 2021-22, including new generation products, new faces, new body styles, plug-in-hybrids, and new power trains,” JLR India President and Director Superintendent Rohit Suri told PTI.
All in all, the company believes there is a major growth trend in the luxury car segment in India, he said.
“As the Indian economy continues to prosper, the number of Indian HNI will also grow and that will create a demand for luxury cars,” Suri said.
He also added that the company aims to grow faster than the luxury car market in the domestic market in this current fund.
“In line with economic growth, we expect the luxury car market to see strong double-digit growth and we will strive for rapid growth in FY 2021-22,” Suri noted.
In launching I-Pace, he said with this model the company wants to focus on providing customers with proprietary and trouble-free EV information, while looking at what is happening in the EV market very closely, including customer likes and dislikes.
“Therefore, we will strive to increase the sales capacity of Jaguar PACE and prepare ourselves for a strong future,” he added.
In February this year, JLR announced its plans to become a carbon-zero zero business by 2039 when its Jaguar brand will be the flagship of the luxury electric car from 2025.
According to its new global ‘Reimagine’ strategy, all Jaguar and Land Rover names will be available in pure electric form at the end of the decade, and the first all-wheel drive model of the Land Rover SUV will be launched in 2024 and the product will have six pure electric variations over the next five years.
As the company seeks to supply its vehicles with electricity, the company will also be restructured with its own production units.