Jaguar, the sports car brand owned by Tata Motors, stated on 5th April 2012 that the company will again mark its presence in the sports segment with the launch of 'F-Type' super car. The car will be introduced in the auto industry by mid 2013 and will be offered in numerous variants with a host of petrol engines.
Adrian Hallmark, Global Brand Director, Jaguar Cars, mentioned in a statement, “We showed the C-X16 concept in September 2011 and the reaction to it has been so positive that we've accelerated our development of an all-new Jaguar sports car. That car will be called the F-Type and it will be unveiled in production form later this year. Its performance and character will start where the XKR-S finishes.”
Expressing his views at the New York Auto Show, Hallmark said that the F-Type will represent the re-entry of the British brand into a segment where it has had no representation for quite some time. The company will develop this new vehicle at its Castle Bromwich manufacturing unit in UK. F-Type is likely to hold a 3.0 litre supercharged V6 engine, which is expected to deliver stunning performance. Hallmark's statement also added, “Full F-Type technical and range details will be announced later in 2012. It will go on sale in mid-2013.”
Mentioning information about the new car, the JLR official stated that the new F-Type will be a two seater convertible which will be made using aluminium. His statement also added, “A range of petrol engines will be available, including a new powerplant family, and all will deliver stunning sports car performance... The core appeal of Jaguar's cars is their sporting heart and that heart will beat stronger than ever before in the F-Type.” Post launch, the vehicle will join the distinguished company of XF saloon and Sportbrake, XJ saloon and XK convertible.
On the latest foray of Jaguar in sports car segment, Ian Callum, Director, Design, Jaguar, said “The C-type, D-type and E-type Jaguars were all sports cars that held true to principle in their era, and the F-TYPE will hold true to that same principle in its time, a time that is soon to arrive.”
In a previous announcement, Jaguar Land Rover (JLR) mentioned that it will bring out 40 new vehicles in the coming 4 to 5 years. In March 2012, the company issued bonds and raised close to 500 million pounds, which amount to approximately Rs. 4,000 crores.
Previously, JLR stated in an investor update on the website of Tata Motors that it believes in increasing its previously announced investment of 1.5 billion pounds in the current fiscal. This rise in capital will be made in lieu of developing new products and bolstering its production capacity.
In April 2011, the company announced that it will infuse 1.5 billion pounds each year for the next consecutive five years in order to develop new vehicles. An extended portfolio will help the premium manufacturer to remain parallel with other international luxury auto makers and maintain its enviable position in the industry.
Apart from this investment, the company will also allocate a sum of 3.5 billion yuan (over Rs. 2,800 crores) for its new joint venture with China’s Chery Automobile. JLR also plans to start a local assembly in China with the assistance of its joint venture. On the other hand, the company is also investing a sum of 355 million pounds on an engine manufacturing unit in UK. JLR has also set its eyes upon setting up a new engine production plant in India.
