Range Rover Sport to go electric as Jaguar Land Rover grapples with chip shortage
Land Rover has introduced the all-new Range Rover Sport, a popular choice among the brand's enthusiasts. This mid-size SUV is renowned for its street performance, though it is equipped with advanced all-wheel drive for off-road capabilities when required. More excitingly, the upcoming Range Rover Sport model will be available in an all-electric version starting in 2024, in addition to the existing mild hybrid, plug-in hybrid, and V8 options.
Electric Vehicle Expansion
The Range Rover Sport will follow its larger sibling, the Range Rover, in offering an electric vehicle (EV) variant by 2024, as part of the brand's commitment to introducing 6 EVs by 2026 and achieving 60% of sales from EVs by 2030. To accommodate this diverse range of powertrains, Land Rover designed the new Range Rover Sport on a versatile platform that supports both internal combustion engines and electric propulsion.
Jaguar Land Rover's Director of Product Planning, Rob Filipovic, emphasized the importance of meeting customer needs with this new platform. He stated, "It was important for us to make sure we satisfy all those [customer] needs. We still have those V8 purists and diehards, but equally, we have a lot of consumers out there begging for their Range Rovers and Range Rover Sports to be electrified."
Challenges and Growth
Amidst this transition to electric vehicles, Tata Motors—Jaguar Land Rover's parent company based in India—faces challenges such as the global chip shortage, leading to unexpected financial losses in recent quarters. Tata Motors CFO PB Balaji expressed concerns about inflation and semiconductor supply, foreseeing a challenging period ahead.
Although the chip shortage is expected to persist into 2023, Jaguar Land Rover reported growth in its order book, with ADR-listed shares of Tata Motors increasing. Despite the hurdles, the brand remains optimistic about its future, with plans to launch two new EVs in 2024.
