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Showing results for tags 'electrification plans'.
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Jaguar Land Rover To Boost Investments To Become Less Dependent on Diesel
William Maley posted an article in Jaguar
Last September, Jaguar Land Rover announced plans to begin electrifying their lineup in 2020. This means electrics, hybrids, and plug-in hybrids. There is a good reason why JLR is doing this. Bloomberg reports that the company is very dependent on diesels in Europe. In the fourth quarter of last year, 87 percent of JLR sales in the region were made up of diesel vehicles - surprising to say in the least as sales of diesels for other brands were dealing due to the Volkswagen diesel emission scandal. But it is starting to hurt Jaguar Land Rover. The company said total sales and revenue through March “did not grow as much as we planned” due to customers becoming very concerned about diesel vehicles. Margins and profit also took a hit. To pull this off, JLR needs to spend a lot of money. At a presentation for investors yesterday, the company announced that it would be spending 13.5 billion pounds ($18 billion) for the next three years as part of their electrification plans. A fair chunk of the investment will go to JLR's plants in the United Kingdom for retooling. The goal is to offer three versions of all their models, including hybrid and plug-in hybrid models. Electric-only models will only be offered if there is enough customer demand according to a spokesman. Source: Bloomberg (Subscription Required) -
Last September, Jaguar Land Rover announced plans to begin electrifying their lineup in 2020. This means electrics, hybrids, and plug-in hybrids. There is a good reason why JLR is doing this. Bloomberg reports that the company is very dependent on diesels in Europe. In the fourth quarter of last year, 87 percent of JLR sales in the region were made up of diesel vehicles - surprising to say in the least as sales of diesels for other brands were dealing due to the Volkswagen diesel emission scandal. But it is starting to hurt Jaguar Land Rover. The company said total sales and revenue through March “did not grow as much as we planned” due to customers becoming very concerned about diesel vehicles. Margins and profit also took a hit. To pull this off, JLR needs to spend a lot of money. At a presentation for investors yesterday, the company announced that it would be spending 13.5 billion pounds ($18 billion) for the next three years as part of their electrification plans. A fair chunk of the investment will go to JLR's plants in the United Kingdom for retooling. The goal is to offer three versions of all their models, including hybrid and plug-in hybrid models. Electric-only models will only be offered if there is enough customer demand according to a spokesman. Source: Bloomberg (Subscription Required) View full article
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Back in March, Bentley unveiled their first electrified model. The Bentayga Hybrid is a plug-in hybrid that pairs a turbocharged 3.0L V6 with an electric motor to improve efficiency and allow the model to travel up to 31 miles on EV power alone. But Bentley's new CEO Adrian Hallmark admits they need to do more. “The [Bentayga] hybrid is a great first step but we need to do more than one hybrid. Hence the first thing we’ve changed [since I started] is the electrification of the cycle plan as fast as we can," said Hallmark to Autocar. He admits that the luxury automaker wasn't prepared for the electrification trend and is working fast to fix this. “That’s been quite a big change and we’ve shuffled a number of things around to be able to do it. It means that in every name plate will be an electrified option - hybrid or full electric – by 2025. We’ll flesh out specific plans in the next three to six months. Certainly by the end of this year, we’ll be in a much clearer position about what we’ll do.” Bentley is also planning to launch an electric vehicle within the next five years. Hallmark wouldn't go into detail about what the model would be, but did say we could do anything.” Source: Autocar View full article
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New Bentley CEO Admits They Were Not Ready For the Electrification Trend
William Maley posted an article in Bentley
Back in March, Bentley unveiled their first electrified model. The Bentayga Hybrid is a plug-in hybrid that pairs a turbocharged 3.0L V6 with an electric motor to improve efficiency and allow the model to travel up to 31 miles on EV power alone. But Bentley's new CEO Adrian Hallmark admits they need to do more. “The [Bentayga] hybrid is a great first step but we need to do more than one hybrid. Hence the first thing we’ve changed [since I started] is the electrification of the cycle plan as fast as we can," said Hallmark to Autocar. He admits that the luxury automaker wasn't prepared for the electrification trend and is working fast to fix this. “That’s been quite a big change and we’ve shuffled a number of things around to be able to do it. It means that in every name plate will be an electrified option - hybrid or full electric – by 2025. We’ll flesh out specific plans in the next three to six months. Certainly by the end of this year, we’ll be in a much clearer position about what we’ll do.” Bentley is also planning to launch an electric vehicle within the next five years. Hallmark wouldn't go into detail about what the model would be, but did say we could do anything.” Source: Autocar
