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Tata to shed 1,100 Jaguar Land Rover jobs after coronavirus hits earnings

BENGALURU — India's Tata Motors Ltd expects to shed about 1,100 temporary jobs at Jaguar Land Rover after it raised the cost-cutting target at its luxury unit by 1 billion pounds ($1.26 billion) to ride out the disruptions caused by the coronavirus outbreak. Tata Motors expects to save 5 billion pounds in costs by March 2021 at its Jaguar Land Rover (JLR) unit, the Indian automaker's Chief Financial Officer PB Balaji said on Monday, adding 3.5 billion pounds of the savings had already been achieved. It will also reduce capital expenditure at JLR to 2.5 billion pounds for the current fiscal year, from the more than 3 billion pounds it has spent annually in previous years. "Conserving cash and prioritizing capital expenditure, and targeting investment spending to the right areas is our focus," Balaji told reporters, after the company posted a fourth quarter loss. We anticipate that up to 1,100 agency employees will be affected, a JLR spokeswoman said in a separate statement. Tata Motors is reviewing all its businesses and would consider exiting those that do not add strategic value, as part of a broader effort to save 60 billion rupees ($789 million) in its domestic business in the fiscal year to 2021. The automaker on Monday posted a consolidated fourth quarter net loss of 98.94 billion rupees, as coronavirus lockdowns across its markets ravaged sales, including at JLR. Total revenue from operations fell 27.7% to 624.93 billion rupees in the quarter, which ended March 31. JLR, which contributes the bulk of Tata Motors' revenues, reported a pre-tax loss of 501 million pounds for the period after it took a hit of 800 million pounds because of the novel coronavirus, Balaji said. He said there were signs sales were recovering in China, one of JLR's biggest markets, as well as in the United States and in Europe, with strong orders for Land Rover's sport-utility vehicle Defender and Range Rover's Evoque. JLR's boss Ralf Speth, who has led the company since 2010, will step down from his role at the end of his contract term in September. ($1 = 76.0446 Indian rupees) ($1 = 0.7954 pounds) (Reporting by Chandini Monnappa in Bengaluru and Aditi Shah in New Delhi; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Buy a Jaguar E-Type continuation, get a matching wristwatch

From time to time, automakers release special branded watches. Jaguar and Land Rover are no different. The latest from Land Rover isn't particularly remarkable, but one new Jaguar piece is pretty special. Jaguar partnered with British watchmaker Bremont for a line of watches, the most impressive being a 43mm watch that commemorates Jaguar's continuation series of Lightweight E-Types. Like the cars, only six of the watches will be produced, and they will be offered to the owners of those $1.5 million cars. Each watch features a serial number that matches a corresponding car, and the faces have been designed to look like the instruments aboard the E-Types. The same goes for the hands, which look like the gauge needles. The winding crown also has a tire tread pattern that wraps around the sides, with Jaguar's heritage logo on the top. And these timepieces are built with aluminum left over from the continuation E-Types. On the back is the most impressive part, though. Here is where the watch's automatic winding weight is visible. It's shaped like a vintage steering wheel, and the outer rim is made from real wood. The weight keeps the watch and its exclusive Bremont movement wound. If you can't afford this ultra-limited watch, Bremont has a line of other Jaguar watches with many of the same design cues, at prices ranging from less than $5,000 to more than $11,000. The Land Rover watch is a bit disappointing, since it bears little apparent connection to the vehicles. Zenith, the Swiss company that partnered with Land Rover for the piece, claims the design is inspired by the Range Rover. And Land Rover claims a connection in that a British explorer wore the same series watch while completing an expedition with a pair of Range Rovers. There's also the fact that the watch and the SUV are both made of aluminum, but otherwise, the Zenith watch doesn't look particularly automotive. The box sounds pretty cool, though, since it's fashioned from Land Rover wood and upholstery. Related Video:

Nearly-ready electric Jaguar XJ gets scrapped even as JLR announces its EV push

A smattering of news from Jaguar Land Rover landed this morning concerning the brands’ electric futures. One sentence partway through JaguarÂ’s long press release caught our eye, though, and it has to do with the Jaguar XJ. “Although the nameplate may be retained, the planned Jaguar XJ replacement will not form part of the lineup, as the brand looks to realize its unique potential,” the press release states. If youÂ’ve been following Jaguar XJ news, youÂ’d know that Jaguar planned on making the next-generation XJ a fully electric car. ItÂ’s been in development for several years. Jaguar has been talking it up pre-reveal, and weÂ’ve even spied the car out testing a couple times. We were expecting a debut event for this new electric XJ to happen any time now. Theoretically, it should fit in perfectly with JaguarÂ’s vision to sell 100% electric cars by 2030, right? Apparently not, because itÂ’s dead. We contacted Jaguar to get a better explanation for what is going on here. Jaguar XJ 1 View 10 Photos When queried, a spokesperson sent us this in response: “Following a thorough technology review against the exponential change in the automotive industry, we concluded that the planned XJ replacement does not fit with our vision for a re-imaged Jaguar brand. We have made the tough decision that it will not form part of the lineup, as the brand looks to realize its unique potential. However, the nameplate may be retained.” To make doubly sure that Jaguar is indeed throwing out a nearly-ready EV the same day it announces an all-EV future, we asked again, and Jaguar confirmed. “We were working on an XJ EV, but have moved on to a different approach for the entire Jaguar EV lineup vision based around a new unique Jaguar EV dedicated platform, all due in 2025,” a spokesperson sent us. So there you have it. The electric XJ was said to be built on the Modular Longitudinal Architecture (MLA) platform, and Jaguar touted it as "the world's first, full-electric luxury sports saloon.” Now that thereÂ’s a new Jaguar-dedicated EV platform in the works, the XJ on the MLA platform is canned. We asked Jaguar for more details about the why of this situation, and the above, quoted explanation hints at it. Maybe the “technology review” found that the car Jag was putting together just didnÂ’t measure up to the competition? The new platform will certainly offer much better performance and range than JaguarÂ’s current technology is capable of.