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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.

Jaguar Land Rover may build factory in Saudi Arabia

The Middle East is one of the fastest-growing markets for Land Rover, so it makes sense that the automaker is looking to set up shop in the region. According to Automotive News, Jaguar Land Rover is in talks with the people of Saudi Arabia to build a factory in the country at an expected initial cost of $1.2 billion. Still in the early stage of talks, the proposed facility could start up by 2017 using locally sourced materials such as steel and aluminum.
Such an arrangement could be beneficial for both entities as Saudi Arabia looks to diversify its oil-reliant economy and Land Rover could get local production capacity of around 50,000 units. The report also says that the agreement talks about the possibility for Jaguar models to be built at the same plant further down the road.
This won't be the first vehicle produced in Saudi Arabia - that honor goes to the KSU Gazal-1 - but it will be the first from a major global automaker.

Land Rover will downsize with a pair of hybridized turbodiesel sixes

Europe's automotive industry has ground to a halt, but the strict emissions regulations that went into effect in early 2020 are still looming on the horizon. Land Rover is preparing to launch a pair of hybridized turbodiesel six-cylinder engines in a bid to comply with the regulations and avoid paying huge fines, according to a recent report. British magazine Autocar learned Land Rover has applied the mild hybrid technology already offered on the Evoque and the Discovery Sport, its two smallest models, to a 3.0-liter straight-six to obtain 300 horsepower. The company will also release a more powerful version of the six rated at about 350 horses. The former will be available on HSE, HSE Dynamic and Autobiography Dynamic variants of the Range Rover Sport, while the latter will be added to upmarket models like the HST. The full-size Range Rover (pictured) will get them, too. The sixes represent a two-pronged approach to replacing the 4.4-liter turbodiesel V8 available in Europe, among other markets. It delivers 335 horsepower and 546 pound-feet of torque, and it sends the Range Rover from zero to 60 mph in 6.5 seconds while giving it a 7,700-pound towing capacity. These figures are hard to argue against, but it's an older engine that's increasing the company's fleet-wide average emissions output, so it has to go. The mild hybrid system won't power either Range Rover on electricity alone, but it will make them cleaner and more efficient; losing a pair of cylinders will help in both areas, too. Although Land Rover hasn't confirmed plans to ax the V8 or launch a hybridized six, suppliers have started publishing information about the powertrain, so its launch is believed to be around the corner. Time will tell whether it will appear on the current-generation models or their replacements, which are undergoing shakedown testing globally and due out in the coming months. Sister company Jaguar will use the mild hybrid technology, too. The six-cylinder will find its way into the XF and the F-Pace, which are both expected to receive comprehensive updates before the end of 2020. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Talking Land Rover Defender, Ford Bronco and GMC Jimmy | Autoblog Podcast #586