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Jaguar Land Rover planning to allow owners to earn cryptocurrency

Jaguar Land Rover, Britain's largest auto manufacturer, said on Monday it is testing software that will allow drivers of its cars to earn the IOTA cryptocurrency as a reward for sharing data. The company is developing what it calls "smart wallet" technology to be installed in its automobiles. This would reward Jaguar car drivers with IOTA coins for actions such as enabling their vehicles to automatically report useful data, such as traffic congestion or potholes to navigation providers or local authorities. Drivers could also earn rewards if the car participates in a ride-sharing program, Jaguar said. The tokens earned could be used to pay for tolls, parking and charging for electric cars. The overall goal was to "achieve zero emissions, zero accidents, and zero congestion," the company said. Global car companies are exploring blockchain applications, figuring out different ways in which they can leverage the technology to suit their different needs. Blockchain, the system powering cryptocurrencies like bitcoin, is a shared database that is maintained by a network of computers connected to the internet. The British car company is testing the technology at the new Jaguar Land Rover software engineering base in Shannon, Ireland, where engineers have already equipped several vehicles, including the Jaguar F-PACE and Range Rover Velar, with "smart wallet" features, the company said. It does not yet have a timetable for when it will be commercially available, said Jaguar, a subsidiary of Tata Motors. The IOTA token is based on a distributed ledger technology that enables people and machines to transfer money and data without any transaction fees. IOTA trades on digital asset exchanges and was last at 27 U.S. cents per token. "The smart wallet technology ... can be easily adapted into all new vehicles," Dominik Schiener, IOTA co-founder and co-chairman of its board, told Reuters on Friday. "IOTA wants to enable interoperability with all these different players. So there is no Jaguar coin, no BMW coin, but one universal token for this machine economy," he added.

Junkyard Gem: 1984 Jaguar XJ-S with Chevrolet V8 swap

If you wanted to do some conspicuous consumption during the 1980s, you couldn't do much better than the Series II Jaguar XJ-S. A big, decadent-looking coupe with a smooth V12 engine under its vast bonnet, a new XJ-S would have been just the thing to celebrate a fresh round of S&L looting or a Stinger missile deal with Adnan Khashoggi in 1984. The XJ-S cost plenty to keep running, though; when the third or fourth owner got tired of huge repair bills for V12 problems, a small-block Chevy V8 engine often got swapped in. Today's Junkyard Gem in Denver is such a Jag, with an early-1990s Chevy 350 residing in the engine compartment. While the good old Chevy 350 didn't purr quite as silently as the nicely balanced 5.3-liter V12, it got the job done. Some junkyard shopper had already grabbed the heads off this engine before I got to it. The block casting number indicates that the engine began life in a 1987-1995 car or truck. The small-block Chevy is a common swap for Jaguar XJs, going back to the 1960s.  The cylinder-head buyer tossed the heavy intake manifold on the roof, which would be a junkyard no-no on a nice car. This car's body isn't so nice, though. It appears that some sort of aftermarket hood scoop once lived atop these layers of body filler and pop rivets. The interior looks decent enough, though the varnish on the dashboard wood shows signs of excessive Colorado sun exposure. The MSRP on this car began at $34,700, or about $87,300 in 2020 dollars. You could get a new Cadillac Eldorado Biarritz coupe that year for just $23,737, though the real competition for the XJ-S was more likely to be a Mercedes-Benz S-Class or BMW 6 Series with two doors. The 1984 BMW 633CSi went for $39,120, while the Mercedes-Benz 500SEC cost a staggering $56,800 that year. How the mighty have fallen! This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. You can't buy the race car, but you can buy V12 power wrapped in soft leather and paneled in rare wood. Featured Gallery Junked 1984 Jaguar XJ-S View 22 Photos Auto News Jaguar Automotive History Coupe Junkyard Gems

Jaguar Land Rover to cut thousands of UK jobs

LONDON — Britain's biggest carmaker Jaguar Land Rover (JLR) is set to cut thousands of jobs as the company faces lower demand in China and a slump in sales of diesel cars in Europe. The central English firm builds a higher proportion of its cars in Britain than any other major or medium-sized carmaker and has also spent millions of pounds preparing for Brexit, in case there are tariffs or customs checks. Britain's business minister Greg Clark said on Thursday it is clear why a no-deal Brexit would add to the problems with further costs and disruption. JLR lost 354 million pounds ($450 million) between April and September 2018 and had already cut around 1,000 roles in Britain, shut its Solihull plant for two weeks and announced a three-day week at its Castle Bromwich site. Its Chief Executive Ralf Speth warned in September that the wrong Brexit deal could cost tens of thousands of car jobs and posed a threat to production at the automaker. The Tata Motors-owned company, which employs around 40,000 people in Britain and has boosted its workforce at new plants in China and Slovakia in recent years, unveiled plans to cut costs and improve cash flows by 2.5 billion pounds last year including "reducing employment costs and employment levels." Those cuts will be "substantial" and run into the thousands, the source told Reuters. "The announcement on job losses will be substantial, affecting managerial, research, sales, design," said the source, who spoke on condition of anonymity, not affecting production-line staff "at this stage." The company declined to comment when contacted by Reuters on Thursday. Ford also said on Thursday it will cut thousands of jobs in Europe, exit unprofitable markets and discontinue loss-making vehicle lines as part of a turnaround effort aimed at improving profit margins in the region. Brexit warnings JLR, which became Britain's biggest carmaker in 2016, had been on course to build around 1 million vehicles by the turn of the decade, reported on Thursday a 4.6 percent drop in full-year sales to just under 600,000 vehicles. Demand in China, which had once been one of its strongest countries but has since been hit by a slowdown, fell by 21.6 percent, the biggest drop of any of its markets. "The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence," said Jaguar Land Rover Chief Commercial Officer Felix Brautigam.