Bentley Promises to Launch One Electric Car Annually for 5 Years Starting 2025

Bentley posted a profit of EUR 389 million ($427.1 million) for 2021, compared with a profit of EUR 20 million in the previous year.

By Reuters | Updated: 16 March 2022 16:21 IST

Photo Credit: Reuters

Bentley posted a profit of EUR 389 million (roughly Rs. 3,261 crore) for 2021

Highlights

Bentley is owned by Volkswagen — the largest carmaker in Europe
Carmakers globally are doubling down on efforts to shift to EVs
Bentley is targeting to be end-to-end carbon-neutral by 2030

Luxury carmaker Bentley unveiled plans on Tuesday to build a new electric model annually for five years from 2025 after its annual profit skyrocketed, as the British firm builds on parent Volkswagen's push to broaden electric offerings.

Crewe, England-based Bentley posted a profit of EUR 389 million (roughly Rs. 3,261 crore) for 2021, compared with a profit of EUR 20 million (roughly Rs. 167 crore) in the previous year, after deliveries jumped 31 percent to 14,659 cars on strong demand for new hybrid models.

Carmakers globally are doubling down on efforts to shift to electric models as calls for more environment-friendly machines grow. Bentley parent Volkswagen — Europe's biggest carmaker — is ramping up investments in power infrastructure to take on Tesla.

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Bentley itself is targeting to be end-to-end carbon-neutral by 2030, having invested EUR 3 billion (roughly Rs. 25,154 crore) at its Crewe factory over a period of 10 years to aid this transition.

"Increasing demand for our hybridised models, supported by (EUR 3 billion) of sustainable investment in our Crewe factory, will ensure we remain the benchmark manufacturer in sustainable luxury mobility," said Jan-Henrik Lafrentz, member of the board for Finance and IT at Bentley.

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© Thomson Reuters 2022

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