Jaguar was the first luxury legacy automaker to bring an electric crossover to the United States market. In October 2018, the British automaker delivered its I-Pace EV to the first customer in America. Pushing 394 horsepower via a dual motor setup and achieving an EPA-rated 234 miles on a single charge, the I-Pace was a compelling entry for its launch date.
However, as the EV industry progressed, Jaguar's sporty electric crossover has lost the flair it once had. With options not only undercutting the I-Pace's price but offering a more competitive range, charging speeds, and performance, Jaguar has been seeing a decline in sales with its EV.
But the I-Pace never marked the end of the firm's EV push. Rather, with recent investments and upcoming product launches, the I-Pace was merely the start of a new wave of electrification for Jaguar. JLR recently announced that it would invest £2.25 billion ($2.9 billion) into Jaguar alone for its EV programs.
Included in this investment is a pathway to develop and produce a new vehicle. One of its new cars will be a six-figure luxury sports sedan aiming for around 400 miles of range and enhanced fast charging. Jaguar says it should be able to attain 200 miles of range in 15 minutes.
JLR's chief creative officer said Jaguar's upcoming vehicles will embrace four pillars of exuberance, fearlessness, uniqueness and progressiveness. In an interview with Autocar, CCO Gerry McGovern said, "Being exuberant is a real task, as there’s nothing else around like that. Jaguars need to have a jaw-dropping moment, a sense of wow.”
This comes after JLR announced this April that it would invest $16.5 million into various programs, including AI, autonomous driving, upgrading manufacturing facilities, and more.