Jaguar has unveiled its new Type 01 electric car, a highly controversial vehicle that marks a significant shift in the brand’s strategy. The car, which costs around £120,000, is part of Jaguar’s efforts to reposition itself in a higher price bracket, targeting younger, urban, and highly affluent buyers.
According to Rawdon Glover, Jaguar’s managing director, the Type 01 is “probably one of the most important cars in Jaguar’s history.” Glover explained that the company needed to make significant changes to stay relevant, citing a shrinking and aging client base as a major concern.
The car’s design is also notable, with a length of 5.2 meters, making it bigger than the average UK parking space. Glover emphasized that the car’s design is intentionally bold and divisive, stating that “great design should polarise.”
Glover also discussed the company’s decision to go all-electric, explaining that it was the best choice for the brand’s new strategy. He noted that prospective clients who buy high-end cars are more concerned with design and emotional appeal than with the powertrain.
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Jaguar’s New Strategy
Glover emphasized that the Type 01 is just the beginning of Jaguar’s new strategy, which aims to reposition the brand in the market at a higher price point. Glover noted that the brand’s average selling price is expected to double, from around £60,000 to £125,000.
The Type 01’s unveiling in New York was a deliberate choice, according to Glover, who stated that the city is one of the most important markets for the brand. The car’s design and features are intended to make a strong statement, with Glover saying that the vehicle will “never arrive unnoticed.”
Jaguar’s parent company, Tata, has been supportive of the brand’s new strategy, with Glover noting that they have allowed the company to fulfill its vision. The success of the Type 01 will be measured not just by sales volumes, but by the brand’s ability to reposition itself in the market and generate value.
Glover acknowledged that the brand has faced criticism, including accusations of being “woke,” but emphasized that Jaguar is committed to retaining its heritage while shifting to greener powertrains. He expressed confidence that the conversation will now turn to the vehicle itself, and that people will make their own judgment about the car once they have seen it.
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The Type 01’s specs include a range of 450 miles, with a charging capacity of up to 350kW, and a top speed of 155mph. The car’s design is characterized by its monumental proportions, with a length of 5.2 meters and a width of 2 meters.
The car’s electric architecture is based on an 850V system, with a 118kWh battery and three electric motors producing 1,015 horsepower. The vehicle’s performance is notable, with an acceleration of 0-62mph in 3.2 seconds and a top speed of 155mph.
The charging speed is impressive, with the ability to charge from 10-80% in 22 minutes, adding 200 miles of range in just 13 minutes. The Type 01’s boot capacity is 450 liters, providing ample space for luggage and other items.
Market Strategy
Jaguar’s market strategy for the Type 01 is focused on targeting a new client base, with a emphasis on urban, younger, and design-conscious buyers. The Type 01 is seen as a key part of this strategy, with its bold design and impressive performance aimed at making a strong statement in the market.
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