Jaguar-Land Rover said in a presentation to investors Monday that weak demand for diesel-fueled cars has prompted it to increase its investment in electric cars by 25 percent—to $18 billion—by 2025.
Where the company previously said it would offer an electrified version of each new model it introduced after 2020, it now says that it will offer three versions of each model it sells by 2025: a gas version, a hybrid, and a full battery-electric car, according to a Bloomberg report.
The money will go toward retooling all the company's factories in England to produce electric cars.
A company spokesman told Bloomberg that it would only offer a fully electric version of each model if there is enough customer demand.
The Jaguar I-Pace, the company's first electric car, just hit the market in the United States with a 240-mile range.
Early reviews of the I-Pace's performance have been positive and now the company is looking to spread that performance to other models across its lineup.
2019 Jaguar I-Pace electric car (crossover SUV)
Even after the diesel emissions scandal erupted across the industry and ensnared several automakers, JLR has continued to be more dependent on diesel engines than most. Fully 87 percent of its sales in Europe and the U.K. were diesels last year.
JLR is one of the few automakers whose diesel models escaped emissions scandals that spanned the Atlantic.
The company also plans to invest in a new engineering and technology center in northern England to work on connected cars.