Jaguar Land Rover increases investment to adapt to the global electric vehicle transition

Jaguar Land Rover announced plans to invest another £3 billion (about $3.8 billion) over the next five years to cope with the slowdown in the global transition to electric vehicles. The company will increase its total investment to £18 billion to support its strategy of fully electrifying all models by 2030. Due to the slowdown in demand for electric vehicles, Jaguar Land Rover needs to continue to develop internal combustion engine and plug-in hybrid models in some markets. Previously, Land Rover planned to launch 6 pure electric models by 2026, but has now adjusted to 4.