Investing.com — JLR said on Wednesday it is targeting double-digit revenue growth over the medium term and will increase its focus on the United States, its biggest market, as part of the next phase of its Reimagine strategy.
Chief executive PB Balaji said the company aims to grow its U.S. business to the size of the entire JLR business as it exists today, citing rising demand for luxury products in the region.
The British luxury vehicle manufacturer, a unit of , confirmed it will focus on its Defender brand to pursue growth in the U.S. market, as part of a collaboration with Stellantis.
The two companies signed a non-binding memorandum of understanding to explore product and technology development opportunities in the United States.
The company also said it would continue to invest in India and the Middle East as high-potential markets, alongside existing operations in the UK, Europe and China.
JLR reconfirmed an existing five-year commitment to invest £18 billion in technologies, vehicle platforms and transformation by fiscal year 2029, a plan that began in fiscal year 2024.
On costs, JLR said it is targeting £1.7 billion in savings through cost reductions in material costs, warranty and fixed costs, aiming to lower its breakeven volume to about 300,000 vehicles over the next two years.
JLR also outlined changes to its propulsion lineup. The Range Rover, Defender and Discovery brands will offer mild hybrid, full hybrid, plug-in hybrid or battery electric versions, while Jaguar will be positioned as an electric-only brand.
Range Rover and Range Rover Sport, built at Solihull, will remain on the company’s modular longitudinal architecture, producing mild hybrid, plug-in hybrid and battery electric vehicles, with the Range Rover Electric and Range Rover Sport Electric launching later this year.
JLR said a forthcoming Range Rover model built on its Electrified Modular Architecture platform at Halewood, England, is planned to include a full hybrid electric option in addition to battery electric.
A new Defender model was confirmed as the second vehicle to launch on the Electrified Modular Architecture platform, which will include both hybrid and battery electric options.
Jaguar’s new four-door model, the Type 01, is set to be revealed later this year, built at Solihull.
Balaji said the company is “launching five new products over the next two years” across its brand portfolio.
He added that JLR is “exploring new high potential segments” for the Defender brand, to offer “tailored luxury products and experiences” for more clients in the United States.