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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)

Jaguar's Callum: 'Huge' opportunities with electric vehicles

Eventually, some brave innovator, with an imagination light years ahead of the rest of us mere mortals, will envision an automotive future that the rest of us can't conceive. This person will step up and tell us how electric vehicles have the potential to change our lives for the better. They'll have the guts to tell us that if we could only open our eyes, we'd see that there's a way to get from one place to another that doesn't pollute the air we breathe. They'll explain that it won't just be globally responsible, it'll be magnificent. Yes, the electric car needs a champion, a figurehead, someone so inspirational that comic book superheroes are modeled after him. Finally, that champion has revealed himself. Saying out loud what the enlightened few of us know but dare not utter for fear of ridicule, our hero has spoken. "Electrification will kickstart the biggest change in automotive design in history," Ian Callum, design director at Jaguar told Autocar. That Jaguar sees the potential for electric vehicles is welcome progress. Sarcasm aside, that Jaguar sees the potential for electric vehicles is welcome progress. Even more appealing is that Callum approaches the potential of EVs from a design angle, where the slate is essentially blank, he feels, and so much is possible. "The opportunities an electric powertrain offers are huge," Callum says, "especially in terms of the space for occupants. By removing so much of the mechanical hardware and placing the batteries in the floor plan you open up all sorts of possibilities with packaging." To peer into Callum's mind when it comes to EV design would be extraordinary to behold. In many ways, his vision truly is something most of us cannot grasp completely, having spent a long career designing some of the most desirable cars of our time for some of the most prestigious automotive brands on the planet. So when he talks about the freedom EVs present from a design standpoint, it's not difficult to get excited. A Jaguar EV isn't as far-fetched as it might seem at first. Plus, a Jaguar EV isn't as far-fetched as it might seem at first, as Callum explains. "I'm clear in my mind that an electric Jaguar would be suitable for the brand," he says. "You have to move with the times and design for the opportunities. Look at the C-X75 concept – that was a car that was designed for an alternative powertrain, and nobody had any complaints about how that looked.

Jeremy Clarkson's Jag going up for auction

Fans of Top Gear host Jeremy Clarkson might want to make plans to be in the UK next weekend. On August 24, Anglia Car Auctions in King's Lynn is auctioning off Clarkson's black 1999 Jaguar XJR as part of its classic sale. According to the auction house, the Jag was "originally the daily drive" of Clarkson and has had one registered owner since.
Clarkson's former ride clocks in at 93,000 miles and has an estimated price of 2,500 to 4,000 pounds. At roughly $3,300 to $5,300 in US dollars, that could be quite a steal for a hardcore Jeremy Clarkson fan. And with a supercharged 4.0-liter V8 engine and lavish interior, it's a luxury sport sedan lover's dream.
This isn't the first time Clarkson has crossed paths with Anglia Car Auctions. Back in 2009, he and fellow Top Gear stars James May and Richard Hammond made an appearance at another vintage auction to buy vehicles for a future segment of the show.