Jaguar has announced that when it resumes production, the brand will exclusively build electric vehicles, with none priced under $150,000 USD.
This major shift was revealed by Jaguar’s managing director Rawdon Glover in a recent interview with Top Gear.
Jaguar has halted production for an entire year, and when it restarts, the company is determined to rebrand itself as a premium electric vehicle (EV) maker.
Glover emphasized that the brand will no longer pursue models that cost less than $150,000.
This change comes as Jaguar struggles with declining sales.
In key markets like the U.S., Jaguar’s sales have dropped every year since 2019.
In Europe, the company’s sales plummeted from 84,219 cars in 2018 to just 23,923 cars in 2022. Glover admitted that Jaguar is facing a "painful period."
Production has come to a halt at its UK factory, with the SUV F-Pace, a model first introduced in 2016, being one of the few cars left in dealer inventories.
"With every decision we make, we ask ourselves: 'Will this make people think of Jaguar the way we need them to think of the brand?'" Glover explained. "If those thoughts can’t convince customers to pay $150,000 for a car, we won’t move forward with the project."
While Jaguar has kept quiet about many details of its future lineup, it has teased the release of a four-door sedan with a range of 700 kilometers (around 435 miles).
