Jaguar has made it clear that the company will be moving more upmarket with its upcoming range of fully electric cars, with European publications confirming that JLR CEO Thierry Bollore plans to price those cars at no less than £100,000 (RM581k).

Bollore told AutoExpress in an exclusive interview that “luxury starts not far from £100,000,” meaning its cars will be positioned considerably above current rivals Audi, BMW, and Mercedes-Benz. It is now eyeing carmakers like Porsche and Bentley. According to Automotive News Europe, Bollore said it has been damaging to the Jaguar brand to compete with Audi and BMW.

“Customers, they see the car, like the car and test the car, and they still go and buy an Audi or a BMW. That’s the problem. People buy the originals. We are not the originals. We have to get the positioning of Jaguar much different, higher and more original,” he said, adding that Jaguar has abandoned its goal of reaching one million sales annually. The move is part of JLR’s big Reimagine plan to turn the company around.

The new crop of cars will embody “modern luxury,” Jaguar said, adding that the designs for its new fully electric cars have been signed off. Bollore gave no further details of the cars, but the interview with AutoExpress revealed at least two crossovers and one two-door sports car. Bollore also said JLR will look externally for an electric platform that is suitable for Jaguar.

In a separate interview with Autocar, Bollore said Jaguar will emulate the unique positioning of Range Rover to position its new models in the market. “Look at Range Rover. It’s satisfactory on price and profit levels, and we haven’t yet reached the ceiling. The price is extraordinary, and we have the volumes,” Bollore said.

He added that the Jaguar I-Pace crossover would be the brand’s only current car that will continue to be offered after 2025, but it would be positioned differently to the new models. Jaguar is set to be an all-electric carmaker from 2025.