The CEO of Jaguar Land Rover, Adrian Mardell, has provided additional information regarding the potential pricing of the company's upcoming electric vehicles.

According to Adrian Mardell, CEO of Jaguar Land Rover, the price of one of the company's new electric cars is more likely to be about £150,000 (€181,000) than the £100,000 (€121,000) that has previously been projected.

The head of the automaker also said that the development of its new all-electric cars may cost up to £1.5 billion (€1.81 billion) over the course of the following five years.

The parent company of Jaguar, Jaguar Land Rover (JLR), has previously stated that the electric cars would cost more than £100,000 to buy.

A JLR representative informed Euronews that the first new-generation production Jaguar would be a four-door GT that will be unveiled in late 2025, even if the pricing has not yet been confirmed. It will cost more than £100,000 and be the most powerful Jaguar ever.

In an interview with The Sunday Times, the first details were disclosed. The car will be around three times more expensive than Jaguar's F-Pace SUV if it does end up costing up to £150,000. The corporation may need to sell 30,000 of these new models annually in order to break even.

In order to concentrate more on its all-electric vehicles, the business had already announced that it will be discontinuing the manufacture of nearly all of its existing models by the end of the year.

However, both customers and investors view the move as dangerous given the challenging sales over the previous year, the drop in consumer demand for European brands, and the increased competition from Chinese rivals.

It is projected that the first of Jaguar's three future electric vehicles will be on sale in 2026. An SUV, a saloon car, and a four-door grand tourer are anticipated; the grand tourer is probably going to come first. The company showcased a fresh design concept at Miami Art Week.