We are really loving the news that comes out of Jaguar lately. Parent company CEO Ratan Tata really seems to get how to fight an economic slowdown. "I don't believe we can afford to emerge from the recession as we are," he Autocar recently. "We need to emerge with something shiny and new, which is why we are re-prioritizing the roadster right now."

The new sports car is expected to be called the XE->ke3138, and may be aimed as direct competitor for the Porsche 911. The car may not take too long to go from concept to production because Jaguar only has a limited supply of parts. That mean the XE will used a modified version of the platform already in use for the XF, XK and future XJ. The engine in use would also likely be either an naturally aspirated or supercharged version of the new 5.0-liter V8 that is in use throughout the Jaguar range (currently making between 385 and 510 hp). What will be exclusive to the new XE will be a new version of Jag's sultry styling.

We haven't gotten word yet on when we'll see the new roadster from Jaguar. We do know that the new XJ is first in line, and that will likely be shown at Frankfurt in September.

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