Jaguar has announced plans to buy back 2,760 2019 model year I-Pace electric vehicles (EVs) sold in the U.S. after continued concerns over battery overheating and fire risks. Despite previous software updates aimed at addressing the issue, data revealed that some of the affected vehicles were still suffering from thermal overloads, with three 2019 I-Pace models having caught fire after receiving the software fix.
The buyback decision comes after Jaguar’s earlier guidance for owners to park their I-Pace vehicles outside and away from buildings as a safety measure, as well as implementing a temporary charging limit of 80 percent to reduce the risk of fire. The company has confirmed that it is working on a permanent solution, which now includes the buyback of nearly 3,000 affected vehicles.
Jaguar’s move is a significant financial commitment, though the company benefits from the I-Pace’s steep depreciation, likely minimizing the total cost of the buyback. For many owners, this may be a welcome resolution to the ongoing fire risk concerns, despite the lower resale value of the affected vehicles.
While this buyback would typically be a PR setback for any automaker, Jaguar’s recent struggles with rebranding, including confusion over its new logos and branding, may see this recall as a distraction from ongoing negative press. Jaguar is repositioning itself as an electric-only luxury brand, with plans to reveal a new concept car on December 2 as part of its shift to rival electric carmakers like Porsche and Bentley.