Jaguar is going to join the electric car party now that it’s secured a £307 million ($450 million) loan from the European Investment Bank, reports Autocar.
Their offering will be a Jaguar XJ plug-in hybrid along the lines of the Karma or the Chevy Volt. They hope to get 30 miles from an electric charge and after that the car will be fuelled by gasoline. The average commute lasts only 30 miles, so that should be enough to avoid gas, but that target is much lower than what Tesla or Fisker offer.
Tesla says its Roadster gets 244 miles on a single charge. It’s new Model S should be able to get 160 miles for the low end model. The Fisker Karma gets 50 miles on a single charge, and it too has a gasoline engine to power it when the charge dries up.
The current (gas powered) model of the Jaguar XJ starts at $66,475. Make it electric, and we see the price jumping as batteries cost an additional $20,000 on average. At that price, it’s just as expensive as a Fisker Karma, and much pricier than the $57,400 Tesla Model S.
The Karma will roll out at the end of the year, and if Tesla gets a loan from the DOE, production of the Model S will start in late 2011. Jaguar wants to start production in 2011 as well, says Autocar.
Business Insider Emails & Alerts
Site highlights each day to your inbox.