First Electric Range Rover Will Cost More Than $200,000

Jaguar Land Rover Automotive Plc has opened orders for its first electric Range Rover starting at 154,070 pounds ($208,420), a price tag that will test wealthy buyers' appetite for a battery-powered SUV. It is one of the most expensive electric SUVs on the market, almost 50,000 pounds more than the standard combustion-engine version. The Range Rover Electric can travel 372 miles on a single charge in testing conditions and goes from 10% to 80% charged in 22 minutes.

The new model will gauge the high-end market for a large electric vehicle amid uneven demand for battery-powered cars, including among luxury automakers. It is priced similarly to the electric Mercedes G 580 and not far off ultra-luxury combustion models such as the Bentley Bentayga. Chief Operations Officer Nigel Blenkinsop said the company believes it is competitively priced and positions Range Rover effectively in the U.S. market. JLR aims to produce between 12,000 and 15,000 units in the next five to six months. It sold close to 200,000 Range Rovers last year. However, the range is not the best in class for an electric SUV; for example, BMW's iX3 can travel as far as 500 miles on a single charge in testing conditions.

The high price sets it further apart from cheaper SUVs coming out of China that are taking the U.K. by storm. Chery Automobile Co.'s Jaecoo 7 has quickly become one of Britain's most popular models, earning the nickname "Temu Range Rover" for being a discount version of the British car. JLR, owned by India's Tata Motors Passenger Vehicles Ltd., will be able to mitigate swings in demand as the electric version is being made on the same production lines at its Solihull plant in the West Midlands as the combustion and hybrid Range Rovers. Around 9,000 factory workers in Solihull have been trained for the electric age, as well as a further 1,500 in the West Midlands. The company's Electric Propulsion Manufacturing Centre in nearby Wolverhampton is producing battery packs and electric-drive units.

Getting the model out of the factory doors is a relief for JLR after the U.K.'s largest carmaker last year suffered a crippling cyberattack that shut down its plants for weeks. The company has also had to contend with higher U.S. tariffs and a slump in demand in China. Under new CEO P B Balaji, JLR is placing even more emphasis on the U.S., its largest market. As part of that push, the manufacturer plans to create hybrid versions of the Range Rover and Defender without a plug. The new Range Rover Electric can reach 60 mph in as little as 4.3 seconds and can accelerate from 50 to 75 mph in as little as 2.7 seconds. It is not the only debut JLR is planning this year; it is also reviving the Jaguar brand with a new fully electric lineup, with the first car to be unveiled later this year.