Jaguar Land Rover, as part of an investor presentation this week, stated that it will invest £13.5 billion (about $18 billion) in electrification over the next three years, Bloomberg reports. In the past three years, it's already spent £10.7 billion (around $14 billion) on the same thing.
According to Bloomberg, the investment will allow the automaker to offer three variants of all its future models by 2025 -- one with a gas engine, one with an electric powertrain and one that mixes the first two (probably plug-in hybrids). But while it can do that, JLR also said that it will only offer battery-electric variants of cars if the demand is there. So, um, get to demandin', because an electric F-Type sounds pretty gnarly.
The automaker will use some of that investment money to retool all six of its UK manufacturing platforms for this push into electrification.
Jaguar Land Rover is definitely dependent on diesel in its home markets, with oil-burners comprising some 87 percent of the automaker's UK and European sales in the fourth quarter of last year. But with revenue hurting this year as diesel falls out of favor with those markets, the company needs to make sure it can pivot before the bottom falls out entirely.
Last September, Jaguar Land Rover announced that it intends to offerby 2020. However, "electrified" encompasses not just battery-electric cars, but hybrids and plug-in hybrids, as well. Making an EV-specific jump just five years after that target is ambitious, but Jaguar's already seen a groundswell of demand for its first EV, the . This means the demand is there; JLR just needs to figure out how to make the most of it.