Jaguar Land Rover to spend £356m on electric car factory

Before the end of the decade, electric production is also expected to start at JLR’s factory in Nitra, Slovakia, while it will also make EV body panels at its existing site in Castle Bromwich.  

On Friday, Mr Mardell said: “We are entering the next exciting phase of our strategy, which will see us bring to life our modern luxury electric vehicles and deliver an accompanying modern luxury experience for our clients.”

It came as the company unveiled its biggest profit since 2015, off the back of record Range Rover sales.

JLR reported a profit of £2.2bn for the year to March 31, up from a loss of £64m in 2023. 

That was after sales of £29bn, an increase of 27pc compared to 2023. 

During the year, JLR sold 203,788 Range Rovers, up from 168,949 the previous year. 

Higher-margin cars such as the Range Rover SV sold particularly well, with demand doubling to 4,099 vehicles. 

This included the sale of 20 Range Rover SV Bespoke Sadaf editions, which went for around £330,000 each.