Luxury carmaker Bentley is moving ahead with its transition to electric vehicles (EVs), even as some loyal customers remain reluctant to abandon internal combustion engines.
Bentley CEO Frank-Steffen Walliser acknowledged the divide among the brand’s affluent clientele, noting that while many embrace the latest technology, others are unwilling to switch to 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 stated. However, he also noted that some remain firm in their preference for traditional engines, declaring, “If it’s not a combustion engine, I will not drive it.”
Despite this resistance, Bentley is forging ahead with its EV plans, starting with the development of its first electric vehicle production line at the Pyms Lane plant in Crewe. The facility, which has been manufacturing luxury vehicles for 85 years, will produce Bentley’s first all-electric SUV in 2026, with deliveries expected to commence in 2027.
Originally, Bentley aimed to go fully electric by 2030, but the company has revised its target to 2035 after reassessing market trends and consumer sentiment. Walliser admitted that the company had initially been “a little bit too bullish” about EV adoption, as global acceptance has 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 hesitancy from customers, Bentley remains committed to electrification. The automaker plans to launch a new electric or hybrid model each year for the next decade as part of its long-term strategy. It has already discontinued petrol-only models, retiring its W12 engine last year. Currently, all Bentley models come with hybrid powertrains as the company transitions towards full electrification.
However, Bentley’s electrification push comes amid financial challenges. The company’s operating profit dropped by nearly 40% in 2023, falling to €373 million (£313 million). This decline occurred despite record-high revenue per vehicle, as Bentley prioritizes “value over volume.” The downturn was attributed to a challenging global economic climate, including weaker demand in China.
Nevertheless, Bentley continues to generate significant income through Mulliner, its bespoke personalization division. Nearly three-quarters of Bentley buyers opt for custom features, often tripling the base price of their vehicles.
While some traditional customers remain skeptical of EVs, Walliser emphasized that Bentley’s long-term vision is about preparing for the future rather than reacting to short-term resistance.
By adjusting its full electrification goal to 2035, Bentley aims to balance its rich heritage with innovation—ensuring its luxury vehicles remain desirable while adapting to the evolving automotive landscape.
