Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Bentley pushes ahead with EV shift despite resistance from traditional customers

by March 20, 2025
March 20, 2025
Bentley pushes ahead with EV shift despite resistance from traditional customers

Bentley is pressing forward with its electric vehicle (EV) transition despite admitting that some of its most loyal customers may never give up internal combustion engines.

Chief Executive Frank-Steffen Walliser acknowledged that while many high-net-worth buyers are eager to adopt cutting-edge technology, others remain unwilling to embrace electric powertrains.

“There are, for sure, customers who say, fine, if it’s the latest and greatest technology I will take it, whatever it is,” Walliser said.

However, he noted that some buyers insist: “If it’s not a combustion engine, I will not drive it.”

The comments come as Bentley begins work on its first EV production line at its historic Pyms Lane plant in Crewe, which has been building luxury vehicles for 85 years. The facility is set to manufacture the brand’s first all-electric battery-powered SUV in 2026, with deliveries expected to start in 2027.

Bentley originally planned to go fully electric by 2030 but has now pushed back its target to 2035, after reassessing market trends and consumer sentiment.

Walliser admitted that the company was “maybe a little bit too bullish in the beginning” and that global EV adoption had slowed.

“Our judgment is that, at the moment, we are at the very deep point on the acceptance of electric cars. We assume it will come back,” he said.

Despite some customer reluctance, Bentley remains committed to introducing a new electric or hybrid model every year for the next decade as part of its long-term EV strategy.

Bentley has already ended production of petrol-only models, retiring its W12 engine last year. All current models now come with hybrid powertrains as the brand prepares for its eventual shift to full electrification.

However, the company is facing financial headwinds. Operating profit fell nearly 40% last year to €373 million (£313 million), despite achieving record revenue per car as it focuses on a “value over volume” strategy.

The drop was attributed to a challenging global economic environment, with a notable slowdown in Chinese demand.

Nevertheless, Bentley continues to generate significant income through Mulliner, its bespoke personalisation division, with nearly three-quarters of buyers opting for custom features that typically triple the base price of a vehicle.

While some traditional customers remain resistant to EVs, Walliser emphasised that Bentley’s long-term strategy is about anticipating future trends rather than focusing on short-term buyer hesitation.

With its revised 2035 electrification target, Bentley aims to balance heritage with innovation—ensuring its luxury vehicles continue to excite buyers while preparing for a changing automotive landscape.

Read more:
Bentley pushes ahead with EV shift despite resistance from traditional customers

0
FacebookTwitterGoogle +Pinterest
previous post
Lord Sugar secures three-year deal to continue The Apprentice into his 80s
next post
British start-up wins £1m AI prize for breakthrough slashing materials development from years to days

You may also like

London gateway looks to surpass felixstowe as UK’s...

July 15, 2024

UK exporters face £27bn Brexit hit as smaller...

December 18, 2024

Eve Sleep calls in administrators as Made.com seeks...

October 17, 2022

Director behind 400 companies banned for nine years...

January 8, 2025

Cost of living crisis hits ‘zombie’ companies

August 2, 2023

Lloyds under fire to publish full £1bn HBOS...

February 17, 2025

UK’s £450m boiler upgrade scheme is failing to...

February 22, 2023

Ferguson Whisky Secures £450,000 Funding from Virgin Money...

November 21, 2024

Housebuilders ‘lobbied against plan for electric car chargers...

September 12, 2022

Survey reveals over three-quarters of UK business leaders...

April 13, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Padel club boom sees 3,200 venues built in 2024 as global popularity accelerates

      June 27, 2025
    • Sweet or taxable? M&S strawberry sandwich sparks new VAT debate

      June 27, 2025
    • Starmer thanks business for footing tax bill

      June 27, 2025
    • UK SMEs must strengthen cybersecurity as geopolitical threats escalate, warns Espria

      June 27, 2025
    • Jeremy Hunt ‘made a mistake’ targeting non-doms, says shadow business secretary

      June 27, 2025
    • Small firms raise alarm over Companies House rule change forcing profit disclosure

      June 27, 2025

    Categories

    • Business (8,326)
    • Investing (2,074)
    • Politics (15,824)
    • Stocks (3,172)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved