The Jaguar Land Rover (JLR) company will focus on making electric vehicles as part of a new vision of "modern luxury by design," CEO Thierry Bollore told CGTN Europe.  

The new plans are are part of a project to become a net-zero carbon business, including its brands, by 2039.

The British company will spend $3.4bn a year to develop what it is calling the "Reimagine" project, with all Jaguar and Land Rover models available in an electric form by the end of the decade. 

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Jaguar will become an electric-only firm from 2025 and the production of the first all-electric Land Rover is expected in 2024. 

CEO Thierry Bollore said in a statement: "Jaguar and Land Rover will have two clear unique personalities, rooted in their rich history to give two distinct choices for customers."

For Jaguar, the manufacturer aims to create a luxury sustainable vehicle by the middle of the decade with a new portfolio of engaging designs. 

The Land Rover brand will welcome six pure electric variants as it continues to be a "world leader" of luxury SUVs. The first electric variant is expected to arrive in 2024. 

Bollore said of the new environmentally conscious strategy: "We are harnessing those ingredients today to reimagine the business, the two brands and the customer experience of tomorrow. The Reimagine strategy allows us to enhance and celebrate that uniqueness like never before. Together, we can design an even more sustainable and positive impact on the world around us."

In an interview with CGTN Europe, Bollare said that was at the heart of the new vision of the company.

He said: "Sustainability is embedded in the fact that for Jaguar by 2025, all of Jaguar's new portfolio will be BEV [battery electric vehicle] only. Concerning Land Rover, before the end of the decade, we will have all our nameplates offered and six of the Land Rover nameplates will be BEV-offered in the five coming years."

BEVs are pure electric vehicles that only use rechargeable batteries as an energy source.

For this move to producing more sustainable brands, the company will collaborate with its parent company, Tata Motors, to cut development costs and explore partnerships on clean energy, connected services, data and software development.

In a statement about the move to electric vehicles, the chairman of Tata Motors, Natarajan Chandrasekaran, said: "Together, we will help Jaguar realize its potential, reinforce Land Rover's timeless appeal and collectively become a symbol of a truly responsible business for its customers, society, and the planet."

On Monday, the British company pledged to keep its "plant and assembly facilities in the home UK market and around the world" but will "repurpose and reorganize" its existing sites.

Despite the impact COVID-19 had across businesses last year, the JLR brand has grown in China – with fourth-quarter figures for 2020 up by 20.2 percent. The company has invested heavily in the Chinese market after opening a plant in 2012, costing $1.3 billion.

Bollare told CGTN Europe: "Our positioning in China is already significant. It's the fastest-growing market for us. You know that in China ... luxury is among the fastest-growing sub-sections of that big market.

"We can already see the success of our cars and, especially, the iconic cars that we can offer to these markets.

"So, it's big for us in terms of revenue, in terms of profit and terms of growth," he said.