Bentley to Sell Fully Electric Vehicles by 2030 | Financial Buzz

Bentley to Sell Fully Electric Vehicles by 2030

Bentley Motors, owned by Volkswagen (OTCMKTS: VLKPF), has revealed plans to sell plug-in hybrid and electric vehicles by 2026 and completely electric models by 2030. The company has decided that come the set deadline, it will no longer provide any internal-combustion engines, which includes even those located in plug-in-hybrids.

According to the british luxury automaker, there will be two plug-in hybrid vehicles available by 2021. Additionally, it anticipated to offer the first full-electric model by 2025, at the moment the company only offers one plug-in hybrid

“The future of Bentley will be fully electric,” Bentley’s chief engineer, Matthias Rabe, said during an event. 

The change was announced as executives detailed the company’s Beyond 100 strategy to ultimately be an “end-to-end carbon neutral car brand.” Best known for its extravagance as well as 8 and 12 cylinder engines, the move may come as a shock to many. 

“Within a decade, Bentley will transform from a 100-year-old luxury car company to a new, sustainable, wholly ethical role model for luxury,” Bentley CEO Adrian Hallmark said in a statement. He said the company aims to be completely carbon neutral by 2030.

However, amid the ongoing coronavirus pandemic, Bentley let go of 1,000 employees, about a quarter of its team, through a “voluntary release” plan that came to lights as its operations were “clearly derailed by the impact of the pandemic.”