Bentley plans to invest around $3.4 billion (2.5 billion pounds) over the next decade to make the British-based, German-owned carmaker a fully electric luxury brand by 2030.
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Another legendary auto brand has entered the electric vehicle wars, with Bentley Motors making a huge investment to ramp up its electrification plans. The British-based, German-owned carmaker plans to invest around $3.4 billion (2.5 billion pounds) over the next decade to make Bentley a fully electric luxury brand by 2030.
The 102-year-old automaker announced the news on Wednesday, January 26, sending Bentley fans into a frenzy. Bentley will use the massive investment for research and development and make substantial upgrades to its plant manufacturing campus in Crewe, England, through the year 2032. Bentley's Crewe Campus is the company's only assembly facility in the world.
The investment news comes two years after Bentley announced its plans to go electric. Bentley unveiled its "Beyond100" business transformation plan in 2020, with the company's main goal being end-to-end carbon neutral by 2030.
Bentley CEO calls Beyond100 its boldest plan yet
Bentley CEO and Chairman Adrian Hallmark released a statement following the investment reveal, saying, "Beyond100 is the boldest plan in Bentley's illustrious history, and in the luxury segment." Hallmark added that Beyond100 is an ambitious and credible roadmap to the carbon neutrality of their total business system, including the shift to 100% BEV in just eight years.
Going all-in on electric is a major move for Bentley, known for its million-dollar vehicles powered by eight- and 12-cylinder engines. The move was not a complete surprise, though, given that the entire auto industry is shifting its business model towards zero-emission vehicles.
Bentley will launch its first electric vehicle in 2025. Not much is known about Bentley's first offering in the electric age at this stage. We know that it will be assembled at Bentley's Dream Factory in Crewe. The vehicle is also expected to utilize advanced driver aids developed by Bentley's parent company, Audi.
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Bentley to roll out six EVs from 2025-2030
That electric vehicle will help kickstart Bentley's foray into the EV market, with the ultra-luxury automaker planning to roll out a new electric car every year from 2025 to 2030. The "Five-in-Five" plan that Bentley envisions after the company debuts its first EV in 2025 will result in six electric vehicles during that period.
It will be interesting to see what those five subsequent EVs by Bentley would look like. The auto website 'The Drive' speculates that three of those five vehicles could be electric versions of the Bentayga SUV, Flying Spur sedan, and Continental GT, the main models in Bentley's current lineup.
Bentley is in a great spot right now after setting record sales yet again in 2021. The company sold 14,659 vehicles last year, a 31 percent increase over the company's previous sales record of 11,206 units in 2020. The Americas remained Bentley's top market, with sales in that area increasing by 39 percent.
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