As Bentley Motors navigates new hurdles in going fully electric, it sets its sights on other victories including more hybrids and expanding its female mentorship program.
Bentley, the iconic British luxury car manufacturer, has adjusted its strategy toward electrifying its fleet. The automaker’s goal of debuting its first fully electric vehicle in 2025 has been pushed back to the end of 2026, but it will continue to focus on its hybrid and plug-in hybrid models, CEO Adrian Hallmark said during a media briefing.
According to Hallmark, Bentley is increasing its investment in plug-in hybrids by “hundreds of millions” of dollars over the next few years — a need necessitated by delays in technology from the Volkswagen Group’s Premium Performance Electric (PPE) platform, a foundational technology for future Bentley EVs, which also impacted the launch timelines of the Porsche Macan Electric and Audi Q6 E-tron. “Whether we deliver all the BEVs by 2031 or not, we still may have some hybrids that we wouldn’t have had post-2030,” Hallmark said. “But not for 10 years, maybe just for a couple of years as we run them out.”
Despite the setback, Bentley says it still plans to end its production of combustion engines — including its V-12 — next month, and all V-8 non-hybrids later this year. Bentley’s current hybrid options include the Bentayga SUV and the Flying Spur sedan, both with sticker prices north of $200,000.
This shift not only postpones the launch of Bentley’s first EV but also affects the subsequent introduction of electric models intended to refresh its existing lineup. The company says it now aims to complete its transition to an all-electric brand by 2033, extending the original target by three years. Bentley says that despite this setback, the delay is an opportunity to enhance the autonomous capabilities of its forthcoming EV, promising advancements in low-speed driving assistance and motorway travel, including technology to prevent curb damage to wheels.
“This is all part of an investment program that is ‘locked and loaded’ and will not be ‘rowed back from’,” Hallmark said. He also hinted at the strategic importance of the debut EV being an “incremental model” without a direct predecessor, reducing the pressure associated with replacing a flagship product like the Bentayga SUV with an electric variant.
In parallel with its EV initiatives, Bentley is gearing up to introduce a new high-performance plug-in hybrid system anchored by a V-8 engine, marking the transition from its venerable W12 engine. This new hybrid technology is part of Bentley’s broader strategy to hybridize its entire model lineup, starting with significant updates to the GT, GTC, and Flying Spur later this year. Hallmark highlighted the enduring appeal of hybrid systems as a “credible transitional technology that effectively reduces CO2 emissions” and facilitates a gradual shift towards electrification for consumers not yet ready to fully embrace EVs.
Bentley’s financial performance underscores the resilience and adaptability of its business model. The company also recently reported its third-best volume year in history in the last fiscal year, with 13,560 cars sold, and its second-best year in terms of profitability, boasting earnings of €589 million. A significant contributor to this success has been the high level of bespoke customization through its Mulliner division, with approximately seventy percent of all Bentleys sold featuring personalized Mulliner content.
“Last year marked a further positive performance in our transformation journey, despite an increasingly volatile geopolitical and business environment. We took another big step forward on our strategy to focus on customer value rather than volume, and our well-balanced export success, disciplined cost management, and ability to maximize personalization proved our resilience and strong foundations to build upon,” Hallmark said in a statement.
“With uncertain market conditions set to continue during the year ahead, we will adapt our business model to ensure we remain in a balanced position, ready to adjust to increases or decreases in demand. Our focus on value over volume will be further strengthened and we look forward to our major product launch events in the second half of 2024.”
Extraordinary Woman Initiative
The luxury carmaker also recently announced its third Extraordinary Woman Initiative for 2024, extending its reach to inspire the next wave of female leaders across the United Kingdom and Qatar. This initiative, in partnership with the University of Bath, Loughborough University, Warwick University, Manchester Metropolitan University in the U.K., and the University of Doha for Science and Technology in Qatar, aims to nurture young talent in engineering, design, technology, and business. The program aligns with Bentley’s Beyond100 strategy, designed to champion gender equality and empower women globally.
The program will select eight exceptional students from the U.K. and Qatar for a mentorship journey with some of the most influential women today, culminating in a week-long visit to Bentley’s headquarters in Crewe, England, this June. Previous editions have connected students with pioneering figures like Amanda Levete, a renowned architect honored with a CBE, Mishaal Ashemimry, the Gulf region’s first female aerospace engineer, and Amna Al Hashemi, a respected Emirati entrepreneur.
This year, Sara Davies MBE, celebrated for her role on BBC One’s “Dragons’ Den” and her entrepreneurial success with Crafter’s Companion, joins as a mentor, expressing her enthusiasm for the initiative: “I love what Bentley is doing, celebrating the achievements of female talent; and most importantly supporting the growth of exceptional young females through their Extraordinary Woman initiative. I cannot wait to get started and meet the student I shall be personally mentoring”.
Karen Lange, a Board Member for Human Resources at Bentley, called the program a source of pride and inspiration to everyone within Bentley. “Our aim for this extraordinary initiative has been to build a legacy for young women and support the success of the next generation of future leaders, and with past participants progressing to undertake placements with Bentley, we are already witnessing the positive impact it is having,” she said.
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