November 7, 2024, Crewe, UK – In a significant shift of strategy, luxury automaker Bentley Motors has announced that it will delay its transition to exclusively selling electric vehicles (EVs) by five years. Originally slated to achieve this milestone by 2030, the company now plans to complete the transition by 2035. The delay comes in response to disappointing sales figures for electric vehicles across the industry, which have failed to meet expectations.
During a virtual press conference on November 7, Bentley Chairman and CEO Frank-Steffen Walliser shared that the company is extending its “Beyond100” strategy, originally set for completion in 2030, to 2035. As part of this update, the initiative will now be called “Beyond100+” to reflect the extended timeline and the evolving challenges in the EV market.
Bentley’s “Beyond100” strategy was first launched in 2020 with the ambitious goal of transforming the brand into a fully electric company by 2030. As part of this transition, the company planned to phase out internal combustion engine (ICE) vehicles and focus entirely on electric powertrains, while maintaining its reputation for luxury, performance, and craftsmanship.
However, Walliser noted that the transition to electric mobility has faced challenges, including slower-than-expected adoption rates for high-end EVs, consumer hesitance in some markets, and the need for further investment in charging infrastructure. These factors have influenced Bentley’s decision to extend the timeline for its full electric transition.
“We remain fully committed to the future of sustainable mobility, but we must recognize the realities of the market,” Walliser said. “While we are confident in the growth of the electric vehicle sector, particularly in the luxury segment, we also believe that additional time will allow us to make this transition in the best possible way for our customers, our workforce, and our brand.”
The company’s new plan, “Beyond100+,” will continue to see the gradual introduction of electric vehicles into Bentley’s lineup, with the first fully electric model, the Bentley “EXP 100 GT,” set to arrive in 2025. Additionally, hybrid versions of existing models like the Continental GT and Flying Spur are expected to continue in production until at least the mid-2030s, allowing Bentley to serve a broader range of customers during the transition period.
The decision to extend the timeline aligns with a broader trend in the automotive industry, where many traditional manufacturers are grappling with the complexity of transitioning from fossil fuel-powered cars to electric alternatives. While companies like Tesla, Rivian, and Lucid Motors continue to gain ground in the EV space, established luxury brands have faced challenges in balancing innovation with their long-standing identities.