Jaguar Land Rover has announced new plans for the Korean market as part of its ‘Reimagine’ strategy to accelerate its transition into a modern luxury automotive manufacturer.
Leonard Hoernig, Chief Business Officer of Jaguar Land Rover, has reinforced the business direction behind the Reimagine strategy, which aims to position Jaguar Land Rover as an electric vehicle-led modern luxury car company by 2030. He also stated that they are on track to achieve positive free cash flow by the end of the fiscal year 2025 and double-digit operating profit by 2026.
Robin Colgan, CEO of Jaguar Land Rover Korea, presented the company’s plans for the Korean market, which includes the expansion of their electrified powertrain lineup according to the Reimagine strategy, the introduction of a ‘House of Brands’ strategy, and the rebirth of Jaguar as a modern luxury brand.
Under the Reimagine strategy, Jaguar Land Rover plans to invest approximately 25 trillion Won (15 billion pounds) over the next five years to transition into an electric vehicle-led modern luxury brand by 2030.
Jaguar Land Rover revealed a roadmap for its next-generation electrification, highlighting plans to convert its Heywood factory in the UK into a dedicated electric vehicle manufacturing facility. The first model from this roadmap will be a modern luxury pure-electric Range Rover, to be unveiled in 2024. The next-generation medium-sized modern luxury SUV, equipped with a pure-electric powertrain, will be part of the Range Rover lineup and is set to launch in 2025.
As the trend toward electrification accelerates in the automotive market, Jaguar Land Rover plans to produce Land Rover electric vehicles based on its electrification module architecture, a dedicated platform for electric vehicles.
The MLA (Modular Longitudinal Architecture) platform, which supports internal combustion engine (ICE), hybrid, and pure-electric (BEV) options, will continue to underpin the Range Rover and Range Rover Sport models. The new Jaguar will be built on a unique architecture known as the Jaguar Electrified Architecture. This new platform strategy will allow Jaguar Land Rover to flexibly adjust its vehicle lineup to meet the diverse demands of global markets, which are evolving at different speeds toward carbon neutrality.
Jaguar Land Rover Korea has proposed a sustainable modern luxury business model for the future in line with the Reimagine global strategy. Starting from 2025, all Jaguar models will be equipped with pure-electric powertrains, while Land Rover aims for 60% of its total sales to feature pure-electric powertrains by 2030. Accordingly, they will expand their electrified powertrain lineup in the Korean market.
This year, Jaguar Land Rover Korea plans to launch the Range Rover, Range Rover Sport, and Range Rover Velar equipped with improved range plug-in hybrid powertrains.
The Range Rover and Range Rover Sport P550e PHEV models, combined with a 3.0L I6 Ingenium gasoline engine and a powerful 160kW electric motor alongside a 38.2kWh battery, will be capable of driving over 100 km (WLTP standard) without carbon emissions. Approximately 75% of the total range can be operated solely in pure-electric mode, and high convenience is provided by the ability to charge the battery to around 80% in under one hour using 50kW DC fast charging.
Beginning with the pure-electric Range Rover in 2024, the first electric vehicles from the Range Rover lineup featuring the EMA platform will be revealed in 2025, followed by electrified models from the Defender and Discovery brands. Jaguar Land Rover will start pre-booking the modern luxury pure-electric Range Rover at the beginning of next year.
Jaguar Land Rover aims to communicate its vision of becoming the most appealing modern luxury car brand for the most discerning customers by expanding the unique characteristics of each of its brands: Range Rover, Defender, Discovery, and Jaguar, through the House of Brands strategy.
As a House of Brands, Range Rover, Defender, Discovery, and Jaguar will operate as individual brands with their own personalities, preferences, and purposes. The Range Rover, Defender, and Discovery brands will continue to hold the Land Rover mark, ensuring the name of Land Rover remains prominent. The Land Rover badge will be maintained not only on vehicles but also at the retailer showrooms. Land Rover will continue to exist as a symbol of trust, supporting the world-class performance provided by the Range Rover, Defender, and Discovery vehicles, based on 75 years of accumulated technology and engineering expertise.
Starting from 2025, Jaguar will usher in a renaissance era as a pure-electric modern luxury brand with a portfolio that showcases groundbreaking next-generation technology and powerful, emotionally resonant designs.
As part of the preparation process for the new Jaguar, Jaguar Land Rover Korea will temporarily suspend retail sales of Jaguar from the second half of 2023. They plan to provide the highest level of customer service based on their unwavering commitment to existing customers.
Following the Reimagine strategy, Jaguar aims to transition to a direct sales agency model in the Korean market, with the goal of providing the ultimate modern luxury experience to customers through design, technology, and service. This will lead to a complete reinvention into a future Jaguar with a whole new brand, business model, and capabilities, innovating every facet of the customer journey and experience.
The first model among the three modern luxury electric Jaguars set to be unveiled in 2025 will be a four-door GT, built on its unique JEA architecture, with a driving range of up to 700 km and priced around 150 million Won (100,000 pounds).
Lee Sang-jin daedusj@autodiary.kr