Bentley Is Investing $3.4B to Become Fully EV Brand by 2030

UTC by Ibukun Ogundare · 3 min read
Bentley Is Investing $3.4B to Become Fully EV Brand by 2030
Photo: Unsplash

Bentley announced its EV plans in 2020 as a part of its “Beyond100” business transformation plan.

Bentley Motors has confirmed EV rumors as the luxurious brand officially announced that it would be investing $3.4 billion over the next ten years to fully become a luxurious electric brand. Several rumors have been flying around that the company is moving into the mass production of electric vehicles. Now, Bentley has announced that its first full EV is scheduled to hit the assembly lines in 2025 and 2030. And by 2030, the company will become a fully electric luxurious automaker.

Bentley Officially Announces EV Plans

Bentley announced its EV plans in 2020 as a part of its “Beyond100” business transformation plan. The business plan also includes the gradual transition to carbon neutrality by 2030. Speaking on the electrification target, CEO and Chairman Adrian Hallmark said in a release:

“Beyond100 is the boldest plan in Bentley’s illustrious history, and in the luxury segment. It’s an ambitious and credible roadmap to carbon neutrality of our total business system, including the shift to 100% BEV in just eight years.”

The luxurious brand revealed that the development and production of its first EV would take place in the UK plant. This is where the company usually produce all of its models. Also, the investment will include research and development and research upgraded to the automaker’s historic plant manufacturing campus situated in Crewe. Bentley’s transition to EVs is a bold and “milestone moment” for the brand.

Bentley will be joining a list of car makers who are gradually adopting EV styles other than traditional cars. Bentley is generally known for its luxurious vehicles with expensive eight- and 12 cylinder engines. As the company moves away from producing traditional vehicles with internal combustion engines, the brand will now rely on plug-in hybrid EVs in its transition. In 2026, Bentley intends to exclusively begin offering electrified models, including all-electric and plug-in hybrids. Currently, the carmaker offers a $160,000 plug-in hybrid version of its Bentayga SUV.

Bentley Records Second Consecutive Year of Record Sales

Despite the global health crisis that affected the economy, Bentley has seen two consecutive years of record sales. In 2021, the company sold 14,659 vehicles, representing a 31% increase over the sales record of the previous year. In 2020, Bentley sold a total of 11,206 cars and SUVs. Bentley hit record sales as the global automotive industry battled with supply chain challenges. Also, there has been a significant shortage of semiconductor chips.

There are rumors that the first Bentley EV could be an SV due to a statement the CEO made last year. Earlier, the brand’s chief executive said that “if you’re not in SUVs, you’re nowhere.”

The Conservative MP for Crewe and Nantwich MP, Kieran Mullan, commented. He said that the announcement is proof of future jobs at the Crewe plans which currently has about 4,000 employees.

“I can imagine if you’re working in the car industry, there’s a lot of uncertainty, a lot of change, and today’s news means the workers at Bentley know that their future is secure,” explained he.

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