Bollore’s exit comes as JLR struggles to ramp up production amid industrywide supply chain issues, as well as making meaningful headway on electrification.
“The company’s transformation and acceleration towards a sustainable, profitable future as a modern luxury business is underway at great pace,” Bollore said in a statement.
JLR sales in the U.S. plunged 37 percent to 44,100 vehicles through the first nine months of 2022.
Back in February 2021, Bollore announced plans for Jaguar to ditch combustion engines completely by 2025, and for Land Rover to introduce electrified variants beginning a year earlier. The carmaker hasn’t given much further detail on its plans such as where it’ll build electric models or where it’ll source batteries from.
In May, Bloomberg News reported JLR was in talks with Northvolt AB and SVolt Energy Technology Co. about supplying batteries for a range of EVs it may assemble in Slovakia.
Reuters and Bloomberg contributed to this report.
