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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)

E.C.D. Automotive Design gets into the Jaguar restomod game

Florida-based E.C.D. Automotive Design — formerly East Coast Defender — made its bones turning the barely disguised Midlands tractors emerging from Land Rover's Solihull plant into finely detailed Chelsea tractors that cost almost as much as a genuine John Deere (which means a lot, for those unaware of the frightening costs of farm equipment). With its territory well marked and established, ECD decided to expand its offerings to "something that would sit nicely next to one of our existing Land Rover builds and be on a par, but something different, something sporty and quintessentially British." The search began and ended with the Jaguar E-Type. Not only do we know the formula for this, but Jaguar Classic Works just advertised its own adroitness with such builds in showing off the 1968 Series 1 E-Type Roadster that took part in the Queen's Platinum Jubilee Pageant. ECD offers a few options Jaguar Classic Works doesn't, though, starting with the same kinds of engine conversions performed on the Land Rovers. The outfitter will be happy to rebuild or source an age appropriate inline-six or V12 and a five-speed manual transmission, warning that the mill "will require higher ongoing maintenance" and "come with leaks and all." Less grubby options are either a GM LT1 6.2-liter V8 with 450 horsepower, shifting through an eight-speed automatic, or an electric conversion using a 450-horsepower Tesla powertrain that provides a range of 200 miles in the city and 140 miles on the highway. All variants get performance suspension and brakes; the ICE versions get a sports exhaust, too. The standard menu of paint and interior options includes 11 historic Jaguar paint colors from the 1960s through the 1980s, and 10 modern colors from the 2023 lineup. Inside, 12 solid hues of Nappa leather can be upgraded with two-tone, hand-tipped, spinneybeck, woven, or distressed treatments to go with the European weave carpeting. Prices start at $299,995, each build taking about 14 months to deliver.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Jaguar I-Pace eTrophy: New EV, new series — Jaguar's going racing

Luxury carmaker Jaguar is teasing the 2018 launch of a five-seat electric sports car based on its I-Pace concept as its first battery-electric vehicle. The Indian-owned automaker released images of the sports car as part of its announcement that it will launch the world's first international production EV race series in 2018. A performance SUV version of the I-Pace, previously reported and presumably based on a concept revealed late last year, is also planned for late 2018. Jaguar has said it plans to electrify all new models after 2020, part of a wave of similar announcements as governments in England, China and elsewhere have announced plans to eventually ban the sale of gasoline or diesel cars. In its announcement, Jaguar said only that the race series would "support the launch" of the I-Pace five-seater. View 7 Photos At the Los Angeles auto show last year, Jaguar said its concept I-Pace crossover SUV would have a 220-mile range from its 90-kilowatt-hour lithium-ion battery pack, designed and engineered entirely in-house. The Jaguar I-Pace eTrophy series is a support series for the FIA Formula E championship and will exclusively feature up to 20 all-electric Jaguar I-Pace racecars across 10 races in cities including Hong Kong, Paris, Sao Paolo and New York. The racecars will be built at the Jaguar Land Rover Special Vehicle Operations in Warwickshire, England. "With the launch of the Jaguar I-PACE eTROPHY, we have strengthened our commitment to battery electric vehicles, international motorsport and Formula E," Gerd Mauser, chairman of Jaguar Racing, said in a statement. "As a British team, we are proud to announce today the launch of the world's first production battery electric vehicle championship." He added: "Ultimately this innovative series will enhance the technology in our future electric vehicles and benefit our customers." Jaguar says it will release technical specifications, race calendar and costs for the I-Pace eTrophy in 2018. Related Video: Green Frankfurt Motor Show Jaguar Electric Racing Vehicles Performance Sedan Frankfurt 2017 jaguar i-pace