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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 Land Rover reveals EV concepts, details green strategy

While it offers diesel models and even a couple hybrids, Jaguar Land Rover isn't quite as fleshed out on alternative powertrains as its luxurious German rivals. That should change pretty soon. JLR revealed three concepts at the CENEX Low Carbon Vehicle event in Millbrook, England, today. The Concept_e "research demonstrators" all use a new electric drive module, an EV system that the Indian-owned, British-based outfit claims will double the power and torque of today' electric motors. JLR says these modular EDMs can be paired with any of the company's engines or transmissions to create either a mild hybrid, a plug-in hybrid, or a pure EV. So yeah, this is kind of a big deal. Arguably the most exciting offering is a one-of-a-kind research vehicle. Riding on JLR's aluminium aluminum architecture, it ties together two electric motors – an 85-kW unit with a single-speed trans on the front axle and a 145-kW rear motor that's been mated to a two-speed transmission – with a 70-kWh li-ion battery that's mounted in the underbody of the car. There's also the Concept_e MHEV. This is a Range Rover Evoque that's been fitted with a mild hybrid system. Just a refresher, but a mild hybrid is very different than what's found in either a Chevrolet Volt or Toyota Prius, as it uses the electric motor and battery pack to simply assist the internal combustion engine, rather than for an electric driving mode. Reflecting that use, this particular Evoque uses a 15-kilowatt electric motor and a 48-volt, lithium-ion battery pack alongside a 90-metric-horsepower diesel-powered prototype. Finally, we have a Range Rover Sport-based plug-in hybrid. This brute uses a 300-metric-horsepower prototype gas engine and an eight-speed automatic alongside a 150-kilowatt electric motor. Energy is stored in a trunk-mounted, 320-volt, li-ion battery back. Partially funded by the British government, the EDMs are the result of a 16.3-million-pound ($25-million) research-and-development program. They're built in house by JLR, but were developed alongside 12 partners. While these concepts are exciting, don't get your hopes up to see a plug-in Jaguar XF or an all-electric Discovery Sport in your local dealer any time soon. "This is a long-term Jaguar Land Rover research project exploring all aspects of future hybrid and battery electric vehicle technology," JLR research and design boss Dr. Wolfgang Epple said in the attached statement.

Jaguar XE to start at $35,895, XF at $52,895

Jaguar has announced pricing for two of its most anticipated models, the new, entry-level XE sedan and the second-generation XF. The British marque also released price changes across its range and unveiled a new customer service pack called EliteCare. As you can see from the headline, the new XE starts at $35,895. That'll score you the base model, the so-called 25t, and its 2.0-liter, turbocharged four-cylinder engine. That puts the baby Jag right in the meat of a very competitive segment. It'll be undercut by the Cadillac ATS, BMW 320i, and Acura TLX, but it's a good bit more affordable than the Mercedes-Benz C-Class, Infiniti Q50, or Lexus IS. If you like your fuel extra smelly and your torque to be offered by the bucket-full, be prepared to shell out $37,395. The 340-horsepower, 3.0-liter, supercharged-V6-powered XE 35t will require at least $42,695. The XE's big brother, meanwhile, is subject to a significant price drop. The new base model, the 340-horsepower 35t, rings up at just $52,895, or over $5,200 less than the entry level V6-powered 2015 XF. Once again, Jag has parked itself in the middle of a popular segment, although unlike the XE, the vehicles that undercut the XF – the Infiniti Q70 and Acura RLX – are old or not particularly popular among consumers. That's good news for JLR, since the new sedan easily undercuts the BMW 5 Series and Audi A6, while sneaking in just below the likes of the Mercedes E-Class or Cadillac CTS. And if you're in mourning for the 2.0-liter, turbocharged XF, don't be – the new 35t is only $2,000 more expensive, is lighter, and has 100 more horsepower. Finally, we have Jaguar's new EliteCare program. Essentially, should you purchase anything from model year 2016 and beyond, your car will be subject to a limited warranty, free scheduled service, and 24/7 roadside assistance for five years or the first 60,000 miles of ownership. Owners will also have access to Jaguar's InControl Remote and Protect services for the first 60 months. According to the Brits, the warranty is the best in the class, while the free maintenance lasts longer than the competition. Read on for the full press release from Jaguar, which includes details and other small pricing tweaks for the company's range.