<a href="https://www.mid-day.com/business/business-news/article/jaguar-land-rover-to-cut-around-4000-jobs-globally-in-next-two-years-23648808" target="_blank" rel="none noopener">Luxury automaker Jaguar Land Rover</a>'s (JLR) India Managing Director and CEO Rajan Amba has said the company will launch its first electric vehicle in the country including the Range Rover Electric and Range Rover Sport Electric in 2027, according to news agency PTI.
Terming India as a key market, the company aims .to tap emerging opportunities in the premium EV segment &nbsp;
"Electric is the way forward," he told PTI. He added that the timing was appropriate to foray into the Indian electric vehicle market.
<h2>Growth in EV sector</h2>
At present, JLR India does not have an electric vehicle in its portfolio. The EV market has grown over the past year across both premium and more accessible segments.
"We've seen brands in the more accessible segments also gain, and I think that we should also see a lot of benefit from it," Amba said.
It will initially import the electric vehicles to test their market response initially.
He noted that the <a href="https://www.mid-day.com/business/business-news/article/indias-electric-vehicle-registrations-rise-63-per-cent-electric-car-sales-jump-81-per-cent-23643146" target="_blank" rel="none noopener">electric vehicle adoption</a> varied across countries and consumer groups and said charging infrastructure and resale value are important factors for buyers.
"There's a lot of infrastructure work to be done. There's a lot of peace of mind to be given to customers in terms of charging infrastructure, in terms of resale values, etc., but all of that has been improving, infrastructure-wise, resale value-wise," he said.
Buoyed by the improvements in infrastructure and initiatives by the Centre and state governments, including incentives for electric cars, he said, "For us, it's been on the cards as a global company. There was always a plan to launch electric, and I think the timing for us is going to be good."&nbsp;
<h2>JLR's growth strategy</h2>
JLR India plans to expand its retail outlets to 40 by the end of this year from 25 last year. Amba said, the expansion, along with competitive price points, would support its growth strategy.
"Certainly we see India as a growth market. That's for sure," he said, adding the company's order bank remained healthy and monthly order intake continued to be strong. The company generally sees stronger business in the second half of the year due to the supply chain structure.&nbsp;
<h2>India-UK trade impact yet to be assessed</h2>
Following the <a href="https://www.mid-day.com/news/india-news/article/uk-india-free-trade-agreement-comes-into-force-boosting-bilateral-trade-23640014" target="_blank" rel="none noopener">India-UK free trade agreement (FTA)</a>, which came into effect in July, he said the company had witnessed a surge in demand following price reductions on certain models.
Amba said the price of a vehicle had declined from around Rs 4.25 crore to Rs 3.5 crore after the revision.
However, he said it was too early to assess the full impact of the trade agreement, since the revised prices came into effect a few months ago. The annual comparison of sales growth after the FTA implementation with the corresponding period earlier would provide a better assessment of the impact, he said.
JLR expects around 20 per cent growth in orders in its Defender brand due to localisation as the company aims to pass the benefit of localisation to the customers, which the company had done in past.
(With inputs from PTI)

The company plans to increase its  retail outlets to 40 by the end of this year from 25 last year as part of growth strategy

JLR India to launch first electric vehicle next year: MD

Moody's: Indian economy well positioned to sustain growth near 7 per cent

JLR India plans to expand its retail outlets to 40 by the end of this year from 25, and  the expansion, along with competitive price points, would support its growth strategy

JLR India to launch its first electric vehicle in 2027: MD

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