JLR to invest $18 billion in electrification R&D over next 3 years
According to a Bloomberg report, UK-based automaker Jaguar Land Rover (JLR) has earmarked an investment of $18 billion in electrification Research & Development (R&D) over the next 3-year period. The investment underscores a 25% increase over the automaker’s current electrification R&D expenditure.
The disclosure about the substantial electrification Research & Development (R&D) spending in the next three years was made by JLR during an investors meeting held in London on May 25, 2018.
As per the Bloomberg report, JLR said at the meeting that would not only be increasing its investment in electric powertrains in the coming years, but would also create a software, information technology, and engineering center, to work on connected car technology. The center will come up in Manchester, England.
Meanwhile, with JLR already having unveiled its first all-electric car called the Jaguar I-PACE in spring this year, the company’s spokesperson Nathan Hoyt has told CleanTechnica in a recent statement that all the new models which JLR will bring to the market after 2020 will be equipped with an electric motor.
The statement by Hoyt implies that JLR’s new models after 2020 would apparently be battery-electric cars, hybrids, or plug-in hybrids. However, it must be noted that Hoyt was evidently referring to JLR’s new models, not its existing vehicles.
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