In India, Jaguar Land Rover has unveiled I-PACE, the company’s first electric vehicle. Jaguar announced in February that it would be entirely electric by 2025.
“The Jaguar I-PACE is the company’s first all-electric SUV, and it marks the start of our electrification journey in India. We hope to play a major role in India’s electrification drive in the future with our electrified goods, said, Rohit Suri, president and managing director of Jaguar Land Rover India Ltd (JLRIL).”Jaguar I-PACE will appeal to people who seek out and buy the latest in technology and design, to express their personalities and stay ahead of the curve,” added Suri.
The starting price of the I-Pace is Rs.1.06 crore, compared to a Model 3’s estimated cost of around $68,000 after export costs. Given that approximately 75% of all car sales in India occur in the $10,000 and under bracket, that will be a tough sell.
A five-year service package, five-year roadside assistance package, 7.4 kW AC wall-mounted charger, and an eight-year or 160,000-kilometer battery warranty are included in the price.
On Tuesday, Jaguar Land Rover launched its all-electric SUV in India, but its sticker price, which is twice that of an entry-level Tesla Inc., would put it out of reach for most Indians.
Jaguar is hoping to break into a market where the change to electric vehicles is moving much more slowly than in other parts of the world due to a lack of charging infrastructure, high prices of battery-powered cars, and banks’ reluctance to finance purchases. According to BloombergNEF, only about one-third of new passenger vehicles sold in India will be battery-powered by 2040, compared to around 70% in China and Germany.
Jaguar’s I-Pace has failed to challenge Tesla’s electric-car dominance in other markets, such as America with sales falling short of expectations. Nonetheless, demand will be driven by rising pollution awareness, the Indian government’s policy push, and more carmakers launching green cars, according to Jaguar Land Rover India President Rohit Suri.
“The Indian market is warming up to the idea of electric vehicles,” says the author “EVs have a lower cost of ownership, are easy to maintain, produce less noise pollution, and emit no tailpipe emissions, according to Suri. “Electric vehicles are a fantastic alternative to traditional vehicles,” stated Suri.
Customers can charge the I-Pace using either a home charging cable or a 7.4 kilowatt AC wall-mounted charger, both of which come standard with the car. The charger will be installed at the customer’s house by Tata Power and Jaguar retailers. On a pay-as-you-go basis, buyers can use Tata Power’s network of 200 chargers throughout the country.
Jaguar Land Rover, which is owned by Tata Motors Ltd. of India, has also announced that its retailer network in 19 Indian cities is ready for electric vehicles. In the next five years, the company plans to introduce six fully electric Land Rover variants, and by 2030, the company expects all of its Jaguar models and 60% of Land Rovers sold as zero-emission vehicles.
“We are confident that the Jaguar I-Pace will be one of the best-selling EVs in the country,” Suri said, citing the Jaguar brand’s high appeal and desirability.
EVs currently account for less than 1% of all car sales in India, despite the fact that the goods and services tax on them was cut to 5% from 12 % 2019, far lower than the levies of up to 28 % imposed on other motor vehicles.
