BMW AG and Jaguar Land Rover plc will collaborate on their next generation of electric cars, following similar moves by other automakers that have teamed up to share the burden of developing the expensive new technology. Jaguar Land Rover, owned by India’s Tata Motors Ltd, will cooperate on BMW’s fifth generation of electric drive technology, the companies said in a statement last Wednesday. It forms the backbone of a BMW electric model offensive set to start next year with the introduction of an electric X3 sports utility vehicle. BMW is currently working through a US$14 billion (RM58.24 billion) savings plan, while Jaguar is undergoing a £2.5 billion (RM13.21 billion) savings programme of its own and cutting 4,500 jobs. BMW was an early entrant into the electric-car market with the i3 hatchback, which began production in 2013, though sales have not taken off.

Source: The Edge Markets June 10, 2019 02:47 UTC