Tata Motors-owned Jaguar Land Rover has lined up investment worth 13.5 billion pounds (around Rs 1.2 lakh crore) in the next three years on new models, technology development and capacity addition.
The company will launch four new models by FY24 taking the total nameplates in its portfolio to 16 from 12 at present. Besides, it has also lined up a total of 99 different 'product actions' during the time period.
Investment will be 4.5 billion pounds per annum from FY19 to FY21 and subsequently targeted at 12-13 per cent of turnover, JLR said in an investor presentation.
The investments will be on new models, technology, capacity with a significant amount of it on electrification and on a new platform, modular longitudinal architecture (MLA).
"Our roll out to MLA will be fully complete by 2025, at which point every product can cater for an ICE (internal combustion engine), BEV (battery electric vehicle) or PHEV (plug-in hybrid electric vehicle) derivative," JLR said.
Sharing a break up of the planned long-term investment by activity, the company said 51 per cent will be on products, 27 per cent on capacity and other activities, 13 per cent on electrification of vehicles and 9 per cent on powertrain.
JLR has been investing heavily over a period of time with an aim to have a significance presence in the global luxury automotive market which is currently dominated by German firms Mercedes, BMW and Audi.
During FY11 to FY18, JLR has invested over GBP 20 billion in new products, technology, capacity and infrastructure, it said in the investor presentation.
Targeting sustainable profitable growth with positive cash flow over the medium to long term, JLR said it is "moderating investment to 12-13 per cent of revenue whilst ensuring competitiveness".
On the product programme, JLR said it has 12 nameplates in FY18 which will grow to 16 by FY24.
There will be "four new nameplates from FY18 to FY23, including the stunning I-PACE with the all new Defender in development", it said.
In FY19 there will be 19 'product actions' -- which include upgrades or variants of existing models or bringing new version of older models.
The product actions will increase to 38 in between FY20 and FY21, JLR said, adding from FY22 to FY24 there will be a total of 42 such actions.