Jaguar Land Rover also plans to produce an electric car in China as Audi, Mercedes-Benz and BMW invest huge sums of money in China to seize market opportunities. Chery Jaguar Land Rover President Dai Murray said that Jaguar Land Rover will make full use of its ability to produce an electric car such as I-Pace in China, details of which will be announced this year.
According to Bloomberg News, Jaguar Land Rover also plans to produce an electric car in China as Audi, Mercedes-Benz and BMW invest huge sums of money in China to seize market opportunities.
Murray Dietsch, president of Chery Jaguar Land Rover, said Jaguar Land Rover will make full use of its ability to produce an electric car such as the I-Pace in China, details of which will be announced this year.
"Our expectation is that the penetration of electric vehicles will continue to grow linearly," Dai Murray said. "With the enhancement of the SUV market and the increase in the popularity of battery electric vehicles, we will see more electric SUVs in the market in the future. appear."
Jaguar Land Rover is looking for opportunities to incite Chinese consumers' growing demand for electric vehicles. However, in the competition for market share, it faces other strong competitors. Tesla is ready to set up a factory in China, while Audi of the Volkswagen Group plans to launch five new energy models for China by 2022. Daimler spent 655 million euros to produce Mercedes-Benz electric vehicles with its domestic partner Beiqi.
China will limit carbon emissions by 2030, which means automakers will need battery-powered cars to market.
According to estimates by the China Association of Automobile Manufacturers, sales of new energy vehicles, including battery-powered, plug-in hybrid vehicles and fuel cell vehicles, reached 777,000 units last year and may exceed 1 million units this year. By 2025, the Chinese government's goal is to reach 7 million cars a year.
“In the next three to five years, our focus will obviously be on new energy vehicles,†said Dai Murray. “We have a very detailed plan that allows us to act as expected.â€
Dai Murray said that because the Chinese market may be "more demanding" for electric vehicles than the rest of the world, Jaguar Land Rover will first launch "derivatives" here before it will be launched elsewhere. He said Jaguar Land Rover and Chery are increasing their R&D spending and plan to launch a new car in China every year for the next three to five years.
In China, the world's largest new energy vehicle market, European manufacturers are not the only competitors of Jaguar Land Rover. Although the brand's sales in China increased 23% last year to 146,399 units, it is still struggling to catch up with Cadillac, which has a sales growth rate of 45% and sales of 174,437 units.
Dai Murray expects that Jaguar Land Rover's sales in China will exceed the overall growth rate of the luxury car market. With E-Pace's domestic production, sales this year will increase by 15% to 18%.
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