Jaguar's $160,000 Type 00 Aims to Attract Younger, Wealthier Drivers

AFP | Paris, France
Email : editor@newsofbahrain.com

Jaguar is set to target a younger, wealthier clientele with the unveiling of its latest prototype, the Type 00. Presented in Paris, the all-electric luxury car comes with a steep price tag of 150,000 euros ($160,000), positioning it as a competitor to high-end brands like Porsche.

The Type 00, a low-slung, muscular-looking concept car, is expected to hit the production line in mid-2026. This price point is double that of Jaguar's current models, reflecting the brand's ambition to redefine its image in a rapidly changing automotive market, especially as it shifts towards electric vehicles.

The prestigious British automaker, owned by India's Tata Motors since 2008, is working to reshape its identity. The company’s latest moves, such as introducing a new logo with curved lettering and an ad campaign featuring a diverse, multicultural cast (but no cars), signal a bold new direction. The Type 00 prototype itself stands out with a striking electric blue design that evokes futuristic aesthetics, reminiscent of a "Tron" movie set.

Jaguar's Managing Director, Rawdon Glover, described the Type 00 as a clear representation of the future of Jaguar vehicles. He explained that the target market is likely individuals aged 35 to 50, with an interest in both design and technology.

However, Jaguar faces a significant challenge. According to the European Automobile Manufacturers' Association (ACEA), the company accounted for just 1.2% of the European market in January 2023. With only 78,000 cars sold in Europe between April 2023 and March 2024, Jaguar is up against a tough landscape dominated by Tesla, Volvo, and Volkswagen in the growing electric vehicle segment. Economic uncertainty also makes European buyers wary of higher price tags.

Despite the hurdles, Jaguar is hopeful that the Type 00’s impressive specifications will sway potential customers. The electric vehicle promises a range of 700 kilometers (430 miles) on a single charge and offers models with up to 1,000 horsepower. However, details about the car’s heavy batteries have yet to be revealed, leaving questions about its full performance capabilities.