Officially: Jaguar Land Rover announces new CEO
Until last month, Jaguar Land Rover was facing major financial difficulties. The good news is that Jaguar got a $ 705 million loan from Chinese lenders that would help keep her in good shape right now. But one question remained: Who will lead the company after Ralph Speith's retirement?
Tata Motors, the parent company of Jaguar Land Rover, has announced that Terry Bullor will be the new CEO of the luxury car company. He will replace Spyth in the helm on September 10. Bullor has a long history in the auto industry, and his last assignment was to serve as CEO of Renault until last October when he was fired as part of the changes after the Carlos Ghosn era.
As CEO of Jaguar Land Rover, his biggest challenge will be to continue to reduce costs while developing more electric cars at the same time. The next generation of the Jaguar XJ will be fully electric and will be the start of the company's electric era.
“Jaguar Landrover is famous all over the world for its trademark heritage, great design and delicate engineering integrity,” said Bulor. Bullor will also need to develop a plan to revitalize the Jaguar brand, which currently contains three slow-selling sedans. A previous rumor suggested that the XE and XF models could be combined into one model when their current life cycles ended.
The good news for Pollor is that the Land Rover is still strong and there is a high demand for the all-new Land Rover Defender. Indeed, Bollor will need to address the issue of ensuring that the Devander plant in Slovakia returns to regular production despite the epidemic because not having enough production for sale would be a major problem.