British luxury automaker Jaguar is going through a pivotal phase in its journey.
The company is attempting to reposition itself as a luxury electric vehicle brand.
Jaguar has unveiled the Type 01, an electric sedan with up to 1,000 horsepower.
The car carries a price tag of more than £120,000, or the equivalent of $158,400.
The move comes at a time when the company has struggled to compete with other luxury carmakers, chief among them BMW and Mercedes.
Jaguar halted production of its remaining models last year.
The brand’s relaunch, featuring a new logo and an advertising campaign without any cars in it, has drawn mixed reactions in the market.
With demand for luxury electric vehicles continuing to slow, the Type 01 appears to be a major bet on Jaguar’s future.
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