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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

The first Jaguar Project 7 is the new kid in Harry's Garage

The Jaguar Project 7 is more than just an F-Type with a dab more power and a special body, and Harry Metcalfe (who advises Jaguar Land Rover Special Vehicle Operations, which built the car) is here to show us why. This limited-production model is something truly special, and despite Metcalfe's role with JLR it's hard to misinterpret the enjoyment in his eyes when the supercharged V8 roars. Metcalfe's Project 7 is number one of just 250 cars built and wears a British Racing Green body with orange accents around the nose, mirrors, brake calipers, and underneath the rear spoiler – classic sports car style with a little modern flash. His example is also special because the entire build team signed the area underneath the trunk lid. While the engine comes up to temperature during his drive, Metcalfe shows that the Project 7 can be a fine grand tourer, and he eventually puts the throttle down to let his audience here the sublime engine. Metcalfe claims the limited edition Jag actually has too much horsepower but he means that in the best way possible. Driving it reminds him of being behind the wheel of his Pagani Zonda – a fine compliment for a grand tourer to be compared to an ultra-exotic supercar Find out why by taking a ride with Harry.

The Lister SUV-E is a faster Jaguar I-Pace

The Jaguar I-Pace is getting a bump from Lister. Yes, Lister of all companies is going to be selling a limited amount of what it calls the Lister SUV-E. It’s more than just some splotches of paint and a higher price tag, too. Lister says it gave the Jag a software update, resulting in more horsepower and torque over a standard I-Pace. We donÂ’t know how much more, but Lister is promising a 0-60 mph time of four seconds. ThatÂ’s 0.5 second quicker than a normal I-Pace, so Lister obviously made a significant difference with its tune. However, Lister also managed to remove 220 pounds from the I-Pace through various lightweighting efforts, bringing the curb weight down to 4,482 pounds. So, itÂ’s still heavy, but weÂ’re sure this will feel just a hair better in every way. Carbon fiber parts are the main source of weight loss. Lister has used the lightweight material for the front bumper, hood, splitter, rear bumper, roof spoiler and rear diffuser. Carbon ceramic brakes and titanium wheels lower the unsprung weight of the car, too. Strangely, Lister says it has a “more aggressive exhaust sound.” WeÂ’re not sure what that is going to consist of, but it could be cooler than the spaceship electric noises the I-Pace makes as of now. A fully-adjustable suspension should also aid handling — Lister says itÂ’s even lower than the regular I-Pace. All of this goodness will cost you, as the Lister is going to be priced at GBP125,000. ThatÂ’s $161,025 converted to American dollars. Yowza.  Green Jaguar Crossover Hatchback Electric Luxury Performance