Jaguar Land Rover reverses plans for an EV-only factory

Jaguar Land Rover has U-turned on plans to shift one of its factories to making only electric cars as part of an effort to focus on growth in the US, as Britain’s largest carmaker further rowed back on the transition away from fossil fuels. The manufacturer told investors on Wednesday it would offer petrol and hybrid versions of new models, including smaller SUVs that had been planned to shift to all-electric sales. It aims to make US sales equivalent to the current size of the business – a shift that would imply it selling a further 250,000 cars to wealthy Americans. Carmakers across the world have delayed their shift to EVs as governments dilute regulations or, in the case of the US under Donald Trump, removed nearly all incentives to sell battery cars . As the world’s richest economy, the US has by far the most millionaires and billionaires capable of affording luxury vehicles such as JLR’s Range Rover, which starts at more than £107,000 ($143,000), and its smaller premium cars. Executives at JLR are hoping to win a share of an unprecedented wave of inherited money in the US in the coming decades. PB Balaji, who took over as chief executive of JLR last year, said: “To truly manifest the power of our brands, we will increase our focus on North America, our biggest market. The rising demand for luxury products coupled with the strong preference we see for our brands signals significant growth potential. …