Jaguar launches $160,000 Type 00 to attract younger buyers

Jaguar is trying to attract younger, wealthier drivers with its new prototype, the Type 00. This all-electric luxury car was revealed in Paris and has a starting price of $160,000. It is set to hit the market in mid-2026. The price is much higher than most of Jaguar's current models, putting it in competition with brands like Porsche. Jaguar, owned by India's Tata Motors since 2008, wants to appeal to a younger audience. In recent months, the company has introduced a new logo and launched ads featuring diverse models, but very few cars. The Type 00 comes in a striking electric blue color, reminiscent of the movie "Tron." Jaguar describes the design as "exuberant modernism." According to Jaguar's managing director, Rawdon Glover, the target audience for the Type 00 is people aged 35 to 50 who appreciate design and technology. However, Jaguar faces challenges in the current market. A report shows that the brand only held about 1.2 percent of all car sales in Europe as of January 2025. The company sold 78,000 vehicles in Europe from April 2023 to March 2024. In the competitive electric vehicle market, Tesla and Volkswagen lead the way. Many potential customers are hesitant about paying high prices due to economic uncertainty. Jaguar hopes its Type 00 will stand out with a range of 700 kilometers (430 miles) on a single charge and powerful models offering up to 1,000 horsepower. However, details about the car's heavy batteries remain unclear. Other luxury brands are taking a cautious approach to electric vehicles, with some delaying their plans altogether.