Tata Motors-owned Jaguar today said it will re-enter the sports segment with its 'F-Type' super car by the middle of next year that will be offered in a range of variants with different petrol engines.
"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," Jaguar Cars Global Brand Director Adrian Hallmark said in a statement.
Speaking at the New York auto show, he said F-Type will mark the British marque's re-entry into a segment that it has been absent from for too long.
"Full F-Type technical and range details will be announced later in 2012. It will go on sale in mid-2013," the company said.
The company will produce the new vehicle at its Castle Bromwich plant in the UK, it added.
Elaborating about the new product, Jaguar said the F-Type will be an all-aluminium convertible and a two-seater car.
"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," it added.
The F-Type will join the existing range of cars -– the XF saloon and Sportbrake, XJ saloon and XK convertible.
On Jaguar's re-entry into the sports car segment, Jaguar Director of Design Ian Callum 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."
Jaguar Land Rover (JLR) had earlier announced to roll out 40 new products in the next 4-5 years.
Last month, JLR had raised 500 million pound (over Rs 4,000 crore) through issue of bonds.
Earlier, the company had said in an investor update at Tata Motors website said that it is expected to increase its planned 1.5 billion pound investment in this fiscal on new products and ramping up capacities.
In April 2011, JLR had said it will invest 1.5 billion pound every year for the next five years, mainly on product development as it looks to catch up with global luxury car makers and position itself as a top premium brand.
Besides, JLR will invest 3.5 billion yuan (over Rs 2,800 crore) in its recently-announced joint venture with Chery Automobile in China to commence local assembly there.
The company is currently investing 355 million pound in an engine plant in the UK. It also planning to set up an engine manufacturing facility in India.