Jaguar Land Rover chief executive PB Balaji told investors the firm will not discontinue petrol models as it pushes hybrid variants to capture affluent US buyers. The British luxury carmaker, owned by Tata Motors, aims to boost North‑American revenue with a “double‑digit” annual growth target over the next five years. Balaji said the company will give “everything” to turbocharge sales to millionaires and billionaires.

JLR plans to lean on its Defender line and a new Stellantis partnership to expand US sales, currently about 100,000 units a year. Production will stay in the UK and Slovakia, but Balaji left open the possibility of local assembly if the market matches today’s overall business. The group also announced $1.7bn of cost reductions to reach a break‑even volume of roughly 300,000 cars.

Hybrid powertrains will soon appear on Range Rover, Defender and Discovery, while JLR continues to develop five pure‑electric models, including the delayed Range Rover EV and a new Jaguar Type 01. Balaji stressed petrol remains vital in the US and Middle East, rejecting any phase‑out. The strategy ties product diversification to resilience, anchoring the brand’s growth on affluent North‑American demand.