Bentley Changes Plans: Pushing Back Debut of its First EV, All-Electric Car Production

Mar 21, 2024 02:12 AM EDT

BLUE BENTLEY CONTINENTAL GT CLOSE PHOTOGRAPHY — (Photo : PEXELS/Mihis Alex)

Bentley Motors halts the introduction of its first electric cars. This is extending the time frame for transitioning to all-electric vehicles by a few years due to shifting market dynamics. Bentley's first electric car is now scheduled to be launched later in 2026. Customers may anticipate having access to it the following year.

Change of Plans for Bentley

This delay happens as Bentley responds to a surge in demand for hybrid vehicles, posing an obstacle to their ambitious goal of achieving complete sustainability by 2030. The Times Reported about this recent development. Moreover, Bentley Motors has explicitly stated its intent to continue producing cars with internal combustion engines beyond the previously emphasized target of 2030.

This adjustment aligns with the growing preference for hybrid Bentleys, which offer the flexibility of battery-powered operation alongside the capability of utilizing petrol engines for extended journeys, especially following the government's decision to extend the ban on conventionally powered car sales from 2030 to 2035.

According to Motor Authority, Bentley is part of an increasing cohort of automakers that are postponing their electric vehicle initiatives due to a slower-than-anticipated growth in demand for such vehicles.

While facing a delay in its EV roadmap, Bentley remains steadfast in its commitment to transform into a completely electrified brand within this decade. Notably, Bentley's W-12 engine is set to cease production in April, with CNBC indicating that the production of Bentley's V-8 engine will persist solely for plug-in hybrid powertrains from July or August onwards.

The inaugural electric vehicle will mark a fresh model line for Bentley, whereas subsequent electric vehicles will constitute revamped iterations of the current model lines. The initial EV is anticipated to embody a fusion of sedan and crossover characteristics, potentially bearing resemblance to the first electric vehicle introduced by fellow VW Group brand Lamborghini.

Pricing

As per CNBC, the revision to Bentley's electric vehicle strategies was disclosed in conjunction with the release of the 2023 financial outcomes for the Volkswagen-owned firm. These outcomes encompass the global delivery of 13,560 vehicles, marking an 11% decrease from the previous record of nearly 15,200 vehicles in 2022. Furthermore, the revenue amounted to $3.21 billion, reflecting a 13% decline compared to the preceding year, alongside an operating profit of $644.7 million, down by 17%.

As part of a $3.4 billion investment plan by 2030, Bentley had originally planned to introduce its first electric vehicle the next year and then introduce new all-electric models annually after that. The business has now updated its estimates, though, and now expects to introduce its first electric vehicle in 2026. As a result, the introduction of the succeeding vehicles will be delayed.

Bentley presently sells plug-in hybrid versions of the Flying Spur sedan for $221,200 and the Bentayga SUV for $203,200. Both have engines in addition to EV parts and electric range. Including its renowned V-12 engines, Bentley still intends to stop producing conventional internal combustion engines next month and its non-hybrid V-8s by July or August.

Bentley's performance in 2023 represented a substantial improvement over 2021, during which it achieved higher vehicle sales but with reduced profitability. Hallmark noted that the rise in revenue and profits compared to two years prior directly stems from customers choosing more customization and additional features for their vehicles.