JLR plans double digit revenue growth with refocus on North America market

JLR today announced plans to unlock double digit revenue growth by giving markets and customers more choice through greater propulsion flexibility on its Range Rover and Defender models and refocusing its strategic intent on the North America market.

In an update to investors at its headquarters in Gaydon, UK, Chief Executive Officer PB Balaji will outline the next delivery phase of JLR's Reimagine strategy, which will focus on maximizing the strength of the company's House of Brands, growth and building resilience.

JLR is targeting medium-term double-digit revenue growth by leveraging its House of Brands strategy to cater to different customer segments and diversify its sources of growth.

The company also reconfirms its existing five-year commitment to invest ?18bn in future technologies, vehicle platforms and transformation by FY29 (starting FY24), as it drives growth in a flexible propulsion, software and AI defined era.

Alongside its key markets in the UK, Europe, and China, JLR will focus on the US as a priority growth region to cater to the extensive and increasing luxury opportunity there by designing exclusive offerings for that market and also strengthen its supply chain resilience.

JLR would also continue to invest and grow in future high potential markets including India and the Middle East region.