UK automaker Jaguar Land Rover (JLR) says its Jaguar luxury brand will be all-electric by 2025. Meanwhile, its Land Rover brand will release its first all-electric vehicle in 2024, the first of six fully electric models planned for release over the next five years. JLR’s transition will be funded by a £2.5 billion (around $3.5 billion) a year investment into electrification and related technologies, Bloomberg reports.
JLR’s plans are ambitious, but the automaker has previously been slow to embrace electrification. It’s only fully electric car to date is the Jaguar I-Pace SUV, which Bloomberg notes has struggled to make inroads against more established electric carmakers. Even then, the car is built by a contractor, rather than being produced by JLR in-house. The company had to pay a £35 million (around $48.7 million) fine in the EU for missing emissions targets last year.