Bentley Motors plans to invest $3.4 billion
Bentley Motors plans to invest $3.4 billion over the next decade to become a fully electric luxury brand by 2030, the 102-year-old carmaker said on Wednesday.
This investment will include research and development and significant upgrades to Bentley’s historic plant manufacturing campus in Crewe, England the company said. The Crewe Campus is Bentley’s sole assembly facility globally.
“Beyond100 is the boldest plan in Bentley’s illustrious history, and in the luxury segment. It’s an ambitious and credible roadmap to the carbon neutrality of our total business system, including the shift to 100% BEV in just eight years,” Bentley CEO and Chairman Adrian Hallmark said in a press release.
The change is a major move for the automaker, which is best known for its uber-luxurious vehicles with eight- and 12-cylinder engines that can cost millions of dollars. It follows several other automakers saying they plan to move away from vehicles with traditional internal combustion engines to electric powertrains.
But unlike many mainstream automakers, Bentley will lean on plug-in hybrid electric vehicles in its transition to all-electric. The company plans to exclusively offer electrified models, including all-electric and plug-in hybrids, beginning in 2026.
Bentley’s plans follow its second consecutive year of record sales. It reported sales of 14,659 vehicles last year, a 31% increase over the company’s previous sales record of 11,206 cars and SUVs in 2020. The record sales occurred while much of the global automotive industry struggled with supply chain issues. Most notably, an ongoing shortage of semiconductor chips.