JLR’s Range Rover fetches record-breaking sales in Q4FY24, impending EV model on a wait list

In December of last year, the electric Range Rover wait list launched, and according to JLR, over 28,700 people have already signed up for the model.

Business

By Sneha Sengupta On May 10, 2024

According to Jaguar Land Rover, the future electric Range Rover has been tested in harsh environments, such as the arctic circle and the deserts of the Middle East. The electric version of the vehicle is expected to be released later this year.

The business unveiled photos of a Range Rover being test-driven over frozen lakes in the Arctic last month, in extremely cold weather.

JLR Outcomes
At the end of the fiscal year, JLR had about 1.33 lakh vehicles on order, with Range Rover, Range Rover Sport, and Defender models accounting for 76% of those vehicles. In reaction to the Q4FY24 outcomes, JLR CEO Adrian Mardell stated, “the foundation of this success was the sustained global demand for our modern luxury vehicles and a consistent focus on operational improvement.”

The Tata Group sells JLR’s three brands – Range Rover Evoque, Discovery Sport and Jaguar F-Pace – in India.

Battery Energy Storage System

The Battery Energy Storage System (BESS) venture, led by Tata Motors-owned JLR, has declared its collaboration with energy storage startup Allye Energy to provide ‘zero emissions’ power. According to the firm, the engineering team at JLR has been testing this for Range Rover Electric. JLR has made the decision to introduce all-electric versions of the Range Rover, Discovery, and Defender lineup by the end of the decade. As to the press release, the business is set to unveil a new Defender OCTA on July 3.

In Somerset, UK, the Tata Group has also begun construction on a new $4.3 billion battery complex, with plans to begin production in 2026.

According to a Reuters story, the Tata Group is apparently talking about applying for incentives under the recently announced EV policy, however the talks are still in the early stages.