Jaguar Land Rover released details on a plan to spend more than $8 Billion on new cars over the next 5 years. This includes spending more than $163 million every year on research and development for the next 5 years.
Jaguar plans to release 40 new cars over the next 60 months. CEO Ralf Speth is interested taking JLR in the direction of hybrid and alternative fuel vehicles. This was made apparent with the announcement of the Jaguar C-X75 vehicle. 250 C-X75 vehicles will be made costing $1.15 dollars. This hybrid supercar consist of two electric motors and a gasoline engine. With a top speed of around 200 mph and a range of 30 miles on electric power only. As with most limited run and concept vehicles Jaguar hopes the technology will eventually trickle down to its base line of vehicles.
With this plan Jaguar Land Rover plans to challenge the German luxury brands BMW/Mercedes/Audi. However, Jaguar is yet to accomplish the global recognition that the German luxury car brands have achieved. Jaguar had recently received an increase in sales and acknowledgment, with its most recent redesign of they’re cars. It will be interesting to see just how much of an impact an $8 billion plan can have.