Jaguar Land Rover is serious about its plans to become a serious worldwide contender for the luxury auto market. It’s so serious that the company is looking to shed about $6.8 billion in operating costs so it can rise to the next level, according to a recent Reuters report. The target date for these cost-savings measures is by 2020, putting the automaker on an ambitious pathway that could result in a huge turning point.
A special project called Leap 4.5 has been formulated by Jaguar Land Rover. It doesn’t involve firing any employees, which sadly is the method too many companies use to cut costs. In broad strokes, it involves refining the automaker’s supply chain and using modular platforms for more vehicles.
What the automaker won’t be doing is slowing down vehicle production. The future plants that will be built in Slovakia and Brazil are still very much on track, with others likely to join the ranks. Jaguar Land Rover has set a target of 1 million vehicles rolling off production lines worldwide by 2020. Creating models like the Jaguar XE that appeal to the masses is essential for reaching such a goal.
Instead of just looking to churn out more of the same vehicles and hoping consumers snatch them up, Jaguar Land Rover is also working to develop some compelling vehicles that push the envelope. Key among them is the all-electric Jaguar SUV, which is set to launch in 2017. The company is hinting that the styling of the new model will be “radical” with the purpose of making big waves. It will need to, considering that Tesla already has a big head start.
Essentially what this all means is that Jaguar Land Rover is not dwindling in twilight after Ford sold it off. Instead, the company is fighting harder than ever not only for its survival, but to become a true global player in the automotive market.