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Can Jaguar inject energy into flagging UK EV market?
UK carmaker Jaguar Land Rover has rebranded for its forthcoming, all-EV line up, at a critical point in the country’s decarbonisation of transport.Since January 2024, carmakers have had to meet mandatory government vehicle emissions trading scheme targets. But while the share of petrol and diesel cars purchased is falling, not enough EVs are selling to enable carmakers to meet them, according to trade association the Society of Motor Manufacturers and Traders (SMMT).
It reported last week that November battery electric vehicle (BEV) registrations reached 38,581 units, representing 25.1% of the overall market, compared to 79,751 petrol and diesel cars. Reflecting on those sales figures, said: ‘Manufacturers are committed to the mandate’s ambition, but market demand for EVs remains weak.’
In late November, the SMMT reported: ‘When the mandate was unveiled, industry anticipated that 457,000 electric cars would be registered in 2024, which should have accounted for 23.3% of all new car registrations. However, the latest outlook [as of late November 2024] shows 94,000 fewer cars will be registered, totalling just 363,000 with a market share of 18.7%.’ It goes on to conclude that the mandated targets have ‘given manufacturers no option but to subsidise sales’ and estimates those subsidies to amount to £4bn.
It offered a number of reasons as to why EVs are not proving attractive among customers: high interest rates, high prices of raw material and energy, geopolitical tensions, economic uncertainty and lack of confidence in perceived chargepoint provision.
Where blame does not lie, it said, is with carmakers, which it described as having invested billions, provided (in total) more than 125 zero emission car models and over 30 van models, and whose rapid improvements in battery technology have put paid to range anxiety.
Into this dynamic market now comes Jaguar, which has taken on Tesla with an idiosyncratic brand refresh for its forthcoming all-electric vehicle line-up, and launch of a new concept vehicle.
Chief Creative Officer Gerry McGovern OBE says: ‘Jaguar has its roots in originality. Sir William Lyons, our founder, believed that “A Jaguar should be a copy of nothing.” Our vision for Jaguar today is informed by this philosophy. New Jaguar is a brand built around Exuberant Modernism. It is imaginative, bold and artistic at every touchpoint. It is unique and fearless. This is a reimagining that recaptures the essence of Jaguar, returning it to the values that once made it so loved, but making it relevant for a contemporary audience.’
The Type 00 concept vehicle, a fastback saloon with large 23-inch wheels, uses Jaguar Electric Architecture (JEA) and targets a range of up to 770km (478 miles) in the WLTP test cycle.
JLR says that ‘Type 00 is a prelude to a future generation of Jaguars that will recapture the spirit and essence of the brand at its best.’
The first new generation production Jaguar will be a four door GT to be revealed in late 2025.
