According to Schmidt Automotive Research, the British company (owned by Tata) sold over 25,000 plug-ins in 18 European markets, which is about a quarter of its volume. However, it's not enough to meet the CO2 emission requirements - or at least not optimum from a profitability standpoint.
"Despite almost all manufacturers being bullish on CO2 targets this year, it is noteworthy that Jaguar Land Rover (JLR) under the shadow of the semiconductor shortage have likely concluded that they are more willing to derail their CO2 compliance targets in order to help their underlying profits from their higher emitting profitable models than sacrifice these in order to meet their compliance targets.
JLR which is classified as a niche manufacturer has a derogation target of just 131.8g/km rather than the fleet weight-based average 95g/km (NEDC) target for volume manufacturers."
The company currently offers only one all-electric model - Jaguar I-PACE, and close to 10 plug-in hybrid versions of other models.
Tesla reports that during the first three quarters of 2021 it noted some $1.15 billion in revenues from regulatory credits (globally). A year ago at this point it was $1.18 billion (in big part thanks to a deal with FCA, which now is part of Stellantis).
That's a substantial amount cash that over just a few years can translate into one new plant.
The other CO2 pooling groups for 2021 are:
- Renault-Nissan-Mitsubishi Alliance (including Dacia, Mitsubishi, Nissan, Renault, Alpine brands)
- Volvo and Polestar
- Volkswagen Group + SAIC, MG
We assume that Volvo and Polestar are positive and waiting for someone who needs CO2 credits to join the party.