American Marconi Wireless News - Jaguar looks to woo younger, richer drivers with $160,000 Type 00

The low-slung, muscular-looking concept car presented to European reporters on Friday prefigures a production model expected mid-2026 at a base cost of 150,000 euros ($160,000).

That's double what the current line-up of Jags cost, positioning it more in Porsche territory.

But the prestigious British brand -- owned since 2008 by Indian automobile giant Tata Motors -- has embarked on a campaign to remake itself as a ride for a far younger clientele than the one traditionally associated with it. Especially as the market goes increasingly electric.

Late last year, the company raised eyebrows by releasing unveiling a new logo with curved lettering, and an ad featuring a colourful, multicultural cast of models -- but no cars.

The Type 00 prototype is equally as colourful: the electric blue version shown off looked like it had come from the set of a "Tron" movie.

Jaguar says the philosophy behind its newest offering is "exuberant modernism".

Jaguar's managing director, Rawdon Glover, on hand to sit behind the prototype's wheel, called it "a very clear manifestation of all of the future Jaguars that will come".

The target market, Glover said, was "maybe between 35 and 50" and with "definitely an interest in design and interest in technology".

Jaguar has an uphill challenge, however.

According to the European Automobile Manufacturers' Association (ACEA), Jaguar in January this year represented only around 1.2 percent of the European market for all cars sold.

The company sold 78,000 vehicles in Europe between April 2023 and end of March 2024, according to its 2024 annual report.

In the growing electric-car segment, vehicles from Tesla, Volvo, Volkswagen dominate, and many European buyers are balking at higher price tags as economic uncertainty looms.

But Jaguar hopes the Type 00 tech will prove attractive, with a promised range of 700 kilometres (430 miles) between charges, and models offering up to 1,000 horsepower.

The manufacturer, however, did not give details about the heavy batteries the cars would be fitted with.

Other luxury car-makers are slowing their transition towards all-electric vehicles, given the muted response from their customers.

Aston Martin, Bentley, Maserati and other brands have put off their plans, and Jaguar's stable-mate Range Rover has delayed production of its electric SUV.

Y.Kobayashi--AMWN