Jaguar announced their “Reimagine” plan back over three years ago which focused on the brand becoming EV-only by 2025. We are just a few months away from 2025 and now Automotive News Europe has confirmed that five Jaguar models will be cut by the end of the year.
Every model other than the F-Pace will be discontinued and yes that includes their electric SUV known as the I-Pace. Initially, they decided to keep the I-Pace alongside the new wave of EVs but last year they confirmed it would die off with the other internal combustion cars.
According to CEO Adian Mardell, the five models getting the axe are “close to zero profitability” this year. The models include the XE, XF, F-Type, E-Pace and the aforementioned I-Pace.
“We are eliminating five products, all lower value. None of those are vehicles on which we made any money, so we are replacing them with new vehicles on newly designed architectures,” Mardell said during an investor day on June 19.
JLR will launch six new electric models in the next three years, of which three will be Jaguars.
Jaguar is taking a bold gamble by transitioning entirely to electric vehicles (EVs), unlike some competitors who are reconsidering this approach. The British brand, facing challenges, is also strategically prepared for potentially lower sales figures by implementing significant price hikes. This move coincides with their brand refresh, aiming to position themselves as a rival to Bentley in the luxury car market. Only time will reveal the effectiveness of Jaguar’s strategy, considering the drastic changes they’re undergoing to compete in the increasingly crowded high-end EV segment.