Jaguar Land Rover is closely monitoring the demand for battery electric vehicles in India and depending upon the emerging scenario will “strategise” the entry of more models into the country, according to a top company executive.
In an interaction with PTI, Jaguar Land Rover (JLR) India Managing Director Rajan Amba said the domestic market is distinct in its demands for a variety of factors.
“And as such we are closely monitoring demand for battery electric vehicles (BEVs). As luxury consumers become more discerning in their choices and adoption of new technology, we are committed to delivering exceptional vehicles that exceed their expectations along these lines,” he noted.
The company currently sells just one electric model — Jaguar I-Pace — in the country.
Globally, JLR will open bookings for the new Range Rover BEV by end of this year, built upon the success of existing modular longitudinal architecture (MLA), which currently underpins the ICE (internal combustion engine) Range Rover and Range Rover Sport models.
The MLA platform gives the company the flexibility to produce ICE, hybrid, and BEV Range Rovers as required, tailored to meet the demands of different markets, Amba noted.
“Thus, as the demand and trends in the Indian market evolve, we will accordingly strategise the entry of our EVs into India,” he noted.
The British automaker, a wholly-owned subsidiary of Tata Motors since 2008, aims to transform into a modern luxury vehicle business over the coming years. The automaker plans to become a net zero carbon business by 2039.
On sales growth prospects, Amba noted that the automaker remains bullish on growth prospects this fiscal after having reported its best ever sales performance in the April-June quarter.
The company retailed 1,048 units in April-June period this fiscal, a growth of 102 per cent as compared with the same period of last financial year.
“We are certainly optimistic about our sales in the Indian market this year, coming off our best ever sales performance in Q1 FY24,” Amba stated.
The company’s performance in the April-June quarter was enabled by a phenomenal growth of 209 per cent in sales of Range Rover, Range Rover Sport and Defender, he added.
Amba stated that the Indian luxury vehicle segment is growing rapidly and is boosted by prevailing market trends such as steady domestic economic growth, and a burgeoning number of high and ultra-high net-worth individuals, fuelling the demand for luxury vehicles in the country.
“This positions us well to continue our positive growth trajectory in the Indian market over the remainder of the financial year,” he added.
The automaker will continue to focus on providing customers with an extensive collection of best-in-class luxury vehicles to choose from, built to the highest standards of the British brand, Amba said.
He stated that the company is also looking to expand its sales network in order to grow sales.
“We currently have a network of 25 sales outlets and 27 service centres across India and are certainly looking to make a calibrated expansion over the next few years to meet the potential for our brands in India,” Amba said.
In terms of other initiatives, the automaker is curating experiences that are emotionally engaging for customers all year round.
“This approach lets us build long-term relationships with our clients, and is a key step towards accentuating our equity in the Indian market as a modern luxury experiential brand,” Amba said.
On the product side, the automaker last week launched the new Range Rover Velar in India tagged at ₹94.3 lakh (ex-showroom).
The model comes with both petrol and diesel powertrain options.
“Our order book for Velar is already at 750 units, and we plan to accelerate the Velar’s volume potential in India to over 1,500 units annually,” Amba stated.