Ian Callum, Jaguar's design director, presents his latest work at the ongoing Shanghai auto show: the concept I-PACE, the marque's first pure electric model, which will hit the Chinese market in 2018. (Photo provided to China Daily)
Jaguar Land Rover is set to make the most of its China experience and resources for its global business, as Britain's largest carmaker is seeking to transition its internal combustion engine-based business into one that features autonomy, connectivity and electrification: a move from ICE to ACE, as the company puts it.
With almost 120,000 vehicles sold in 2016, China is Jaguar Land Rover's largest single-country market, accounting for one fifth of its global sales.
Ralf Speth, Jaguar Land Rover CEO, said: "China is not only the largest automotive market in the world, but also has the greatest development potential."
Speth made the remarks at the ongoing Shanghai auto show where the brand is showcasing a stellar lineup, including two groundbreaking new models: Land Rover's Range Rover Velar and Jaguar's first electric concept I-PACE.
To make the most of the Chinese market, the British brand appointed Pan Qing earlier this year to head its business in the country, making him the first mainland-born person to sit on the board of an international automaker.
"Pan's appointment to JLR's global board will directly feed back local insights and customers' requirements to the UK. We will be able to utilize this knowledge from our most important market in future research and development," said Speth.
Chinese customers bought 2 million premium cars last year and Pan, executive director of Jaguar Land Rover China, expects the country to surpass the United States to become the world's largest premium car market by 2025. The country is already the largest market for new energy vehicles.
Statistics from the China Association of Automobile Manufacturers show that more than 320,000 new energy vehicles were sold in the country during 2016, a year-on-year increase of 84 percent.
Pan said: "We believe the new energy vehicle segment will continue its rapid growth thanks to the great support from the government, the increase in consumer recognition, and enhanced facility development.
"Jaguar Land Rover is actively leading this trend. We invest more than 15 percent of our revenue annually into research and development, and the I-PACE concept personifies our technology achievements."
The Jaguar I-PACE, which is making its Asian debut at the Shanghai auto show, has been engineered without compromise to deliver groundbreaking style, long-distance range, fast charging times and exhilarating performance.
The production model will be revealed later this year and China will be one of the first markets globally for I-PACE sales in 2018.
