It has already invested more than £250 million in its Halewood plant in the last 12 months.
26 Sep 2024 | 2625 Views | By Autocar Pro News Desk
JLR aims to spend £500 million ($669 million) retooling one of its several factories in England, that is slated to begin manufacturing of electric SUVs, Bloomberg reported.
It has already invested more than £250 million in its Halewood plant in the last 12 months, the newswire reported.
The ...
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JLR aims to spend £500 million ($669 million) retooling one of its several factories in England, that is slated to begin manufacturing of electric SUVs, Bloomberg reported.
It has already invested more than £250 million in its Halewood plant in the last 12 months, the newswire reported.
The firm said in a statement on Thursday, that it will double its expenditure in the coming years, and noted that its facility will eventually be its first to go all-electric, the newswire noted.
The company had sounded off last month that its push into EVs will cost more than earlier planned, citing poor consumer demand and the need to keep developing combustion-engine and plug-in hybrid models for longer, the newswire noted.
The firm now aims to invest £18 billion in five years to create electric options for all its models by the end of the decade, Bloomberg reported.
The Halewood factory has been making key vehicles for JLR in recent years, including the Range Rover Evoque and Discovery Sport. The manufacturer is getting ready to make medium-size electric sport utility vehicles at the plant alongside combustion-engine and hybrid models, the newswire noted.
The firm has not set a date for when hybrid or combustion engine only vehicles will end at Halewood. It had noted in February that it had cut back the number of fully electric Land Rover models planned by 2026 to four from six, the newswire reported.