Jaguar Land Rover (JLR) unveiled plans to go electric on Monday, saying it aims to be net zero on carbon emissions by 2039 as it joined a global race to roll out clean-energy vehicles.
The Tata Motors-owned group's strategy - internally referred to as "Reimagine" - comes as car groups worldwide accelerate moves towards fleets powered by electric and other green technologies.
Land Rover will add six pure electric variants in the next five years and future Jaguar models will be built exclusively on a pure electric architecture, JLR said, adding, that the first all-electric variant of Land Rover will debut in 2024.
Shares of parent company Tata Motors jumped as much as three percent to Rs. 335 after the announcement.
Last month, General Motors said it aimed for all new cars, SUVs, and light pickup trucks to have zero-tailpipe emissions by 2035, a dramatic shift by the largest US. automaker away from gasoline and diesel engines.
By 2030, it is anticipated that 100 percent of Jaguar cars, and 60 percent of Land Rovers, will be equipped with zero-tailpipe powertrains, JLR said.
Late on Friday, Tata Motors named Marc Llistosella as its new chief executive.
"American firm Tesla will set up the car-manufacturing unit in Karnataka," Yediyurappa said.
In 2021-22, infrastructure development at a cost of Rs. 1.16 crore would take place in the state and Rs. 14,788 crore would be released for the second phase of the Metro Rail work.
The Chief Minister said an industrial corridor would be developed in Tumakuru at an investment of Rs. 7,725 crore creating 2.8 lakh jobs.
Hailing the Union Budget presented recently as historic, Yediyurappa said it would pave the way for a $5 trillion (roughly Rs. 360 lakh crore) economy by 2025.
Earlier in January, Tesla incorporation papers surfaced online and the listing of the board of directors mentions two senior Tesla executives. The company, titled Tesla India Motors And Energy Private Limited, was registered last week in Karnataka, with an address on Bengaluru's Lavelle Road.
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