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JLR to become a net-zero carbon business by 2039

February 15, 2021 23:30 IST | ANI Press Release
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Jaguar and Land Rover will offer pure electric power nameplate-by-nameplate by 2030

Mumbai (Maharashtra) [India], February 15 (ANI): Tata Motors said on Monday that its British luxury unit Jaguar Land Rover (JLR) aims to achieve net zero carbon emissions across its supply chain, products and operations by 2039.

Annual commitments of 2.5 billion pounds will include investments in electrification technologies and the development of connected services to enhance the journey and experiences of customers, alongside data-centric technologies that will further improve their ownership ecosystem.

As part of this ambition, JLR is also preparing for the expected adoption of clean fuel-cell power in line with a maturing of the hydrogen economy. Development is already underway with prototypes arriving on UK roads within the next 12 months as part of a long-term investment programme.

JLR said sustainability that delivers a new benchmark in environmental and societal impact for the luxury sector is fundamental to the success of its strategy Reimagine. A new centralised team will be empowered to build on and accelerate pioneering innovations in materiality, engineering, manufacturing, services and circular economy investments.

"We have so many ingredients from within. It is a unique opportunity," said Thierry Bollore, Chief Executive Officer of JLR. "Others have to rely solely on external partnerships and compromise, but we have frictionless access that will allow us to lean forward with confidence and at speed."

N Chandrasekaran, Chairman of Tata Sons, Tata Motors and JLR Automotive Plc, said the Reimagine strategy takes JLR on a significant path of acceleration in harmony with the vision and sustainability priorities of the wider Tata Group.

"We will help Jaguar realise its potential, reinforce Land Rover's timeless appeal and collectively become a symbol of a truly responsible business for its customers, society and the planet," he said in a statement.

Jaguars and Land Rovers sold 425,974 vehicles in 127 countries last year.

Jaguar and Land Rover will offer pure electric power nameplate-by-nameplate by 2030. By this time, in addition to 100 per cent of Jaguar sales, it is anticipated that around 60 per cent of Land Rovers sold will be equipped with zero tailpipe powertrains.

JLR said it is on a path towards double-digit earnings before interest and taxes (EBIT) margins and positive cash flow with an ambition to achieve positive cash net-of-debt by 2025. "Ultimately, JLR aims to be one of the most profitable luxury manufacturers in the world." (ANI)

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

 

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JLR to become a net-zero carbon business by 2039

Mumbai (Maharashtra) [India], February 15 (ANI): Tata Motors said on Monday that its British luxury unit Jaguar Land Rover (JLR) aims to achieve net zero carbon emissions across its supply chain, products and operations by 2039.

Annual commitments of 2.5 billion pounds will include investments in electrification technologies and the development of connected services to enhance the journey and experiences of customers, alongside data-centric technologies that will further improve their ownership ecosystem.

As part of this ambition, JLR is also preparing for the expected adoption of clean fuel-cell power in line with a maturing of the hydrogen economy. Development is already underway with prototypes arriving on UK roads within the next 12 months as part of a long-term investment programme.

JLR said sustainability that delivers a new benchmark in environmental and societal impact for the luxury sector is fundamental to the success of its strategy Reimagine. A new centralised team will be empowered to build on and accelerate pioneering innovations in materiality, engineering, manufacturing, services and circular economy investments.

"We have so many ingredients from within. It is a unique opportunity," said Thierry Bollore, Chief Executive Officer of JLR. "Others have to rely solely on external partnerships and compromise, but we have frictionless access that will allow us to lean forward with confidence and at speed."

N Chandrasekaran, Chairman of Tata Sons, Tata Motors and JLR Automotive Plc, said the Reimagine strategy takes JLR on a significant path of acceleration in harmony with the vision and sustainability priorities of the wider Tata Group.

"We will help Jaguar realise its potential, reinforce Land Rover's timeless appeal and collectively become a symbol of a truly responsible business for its customers, society and the planet," he said in a statement.

Jaguars and Land Rovers sold 425,974 vehicles in 127 countries last year.

Jaguar and Land Rover will offer pure electric power nameplate-by-nameplate by 2030. By this time, in addition to 100 per cent of Jaguar sales, it is anticipated that around 60 per cent of Land Rovers sold will be equipped with zero tailpipe powertrains.

JLR said it is on a path towards double-digit earnings before interest and taxes (EBIT) margins and positive cash flow with an ambition to achieve positive cash net-of-debt by 2025. "Ultimately, JLR aims to be one of the most profitable luxury manufacturers in the world." (ANI)

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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