Jaguar unveiled a $130,500 electric vehicle

Jaguar Land Rover has unveiled its new electric vehicle, the Jaguar Type 01, in New York. The four-door car will have a starting price of $130,500 in the US.

British automaker Jaguar, owned by Indian company Tata Motors, plans to use the Type 01 to launch a new era for the brand. The car's design echoes the iconic E-Type from the 1960s, while the new model follows a 2024 aesthetic.

The company is relying heavily on the US market for sales of the new model, even though demand for electric vehicles in America is lower than in Europe. Meanwhile, European automakers face their own challenges, including competition from Chinese brands, tariffs, and energy supply issues.

The Type 01 is part of Jaguar's plan to eventually shift to producing only electric vehicles. At the same time, Jaguar is still dealing with the fallout from last year's cyberattack and plans to cut its workforce by nearly 10% over the next two years.

Source: Investing.com