Jaguar Land Rover has announced its plans to produce a range of electric vehicles for both vehicle brands. Both Land Rover and Jaguar will offer customers electrified options for its models from 2020 onwards. Jaguar Land Rover is an indirect customer of Formex Industries. The automotive parts we manufacture are sold to the United Kingdom-based brand through our 1st Tier suppliers.
The first model to become electrified will be the new Jaguar XJ – the brand’s flagship luxury sedan that has been highly popular with consumers. The current Jaguar XJ is exported to over 120 countries around the world, including South Africa. Its production run has already ended as preparations for the release of new, electrified 2020 model get underway at the company.
Electric vehicles are the future of transport
“The future of mobility is electric and, as a visionary British company, we are committed to making our next generation of zero-emission vehicles in the UK. We are co-locating our electric vehicle manufacture, Electronic Drive Units and battery assembly to create a powerhouse of electrification in the Midlands,” says Jaguar Land Rover chief executive officer Ralph Speth.
The all-electric XJ model will be designed, engineered and manufactured by the same team that produced the world’s first electric sports utility vehicle (SUV), the Jaguar I-Pace. The I-Pace is available in South Africa from a starting price of R1.69-million. This electric vehicle claimed the title of 2019 World Car of the Year.
Improving the electrified offerings at Jaguar Land Rover
The I-Pace is currently the only electric vehicle on offer from Jaguar and Rover. The expansion of the company’s electrified offerings will improve the selection for consumers that want greener vehicles. So far, consumer uptake of electric vehicles has been a challenge for car brands. However, experts predict that electric vehicles will increase their global share from just 2% in 2016 to 22% in 2030.
“Convenience and affordability are the two key enablers to drive the uptake of electric vehicles to the levels that we all need. Charging should be as easy as re-fuelling a conventional vehicle,” says Speth. Current electric vehicles are expensive and recharging stations are non-existent in South Africa, which means that owners need to rely on the electricity supply at home or at the destination.
As battery technology improves, the prices of electric vehicles will gradually decrease. Vehicle brands are increasingly focusing on the improvement of batteries in order to reduce sale barriers. Batteries are the key source to improve the performance of electric cars.
Electric vehicles will become more affordable in the future and Jaguar Land Rover is relying on this for its future sales. By investing in electrified vehicles, the car brand is stating its belief that green vehicles are the future of transport.
Formex Industries is a metal forming and assembly company that supplies a variety of complex products to the local automotive industry and the export market. The company is based in the Nelson Mandela Bay metropole, South Africa’s foremost region for automotive manufacturing and export.
Formex specialises in producing components for the catalytic converter industry, as well as metal components and assemblies for the various vehicles. Formex aims to become one of the foremost suppliers for the South African automotive industry by 2035, aligning itself with the South African Automotive Masterplan (SAAM) which takes effect in 2020.
Formex is a Level 2 B-BBEE supplier with over 80% black ownership, of which more than 40% are black women. The company is owned by Deneb Investments Limited – a subsidiary of Hosken Consolidated Investments Limited (HCI) – one of South Africa’s biggest true B-BBEE companies listed on the Johannesburg Stock Exchange (JSE).