Bentley plans to amp up its supply of plug-in hybrid versions of its luxury vehicles en route to a future in which all of its offerings will be electrified by the start of the coming decade, the brand’s CEO says.
In a roundtable discussion with media to discuss the Volkswagen Group brand’s 2023 financial results, CEO Adrian Hallmark says Bentley is on target to introduce its first battery-electric model by the end of 2026, a delay from previous announcements that had the brand offering its first BEV in 2025.
In recognition of slackening global demand for BEVs and reductions in government requirements for all-electric vehicles, combined with an understanding of hybrids as a bridge technology, Bentley sees a way forward that offers a mix of hybrids and BEVs to around 2032, Hallmark says. The company previously had planned to shift to a BEV-only lineup by 2030.
At the same time, within a few months the company will end production of its last purely internal-combustion-powered W12 and V-8 models. Alongside the BEV, all Bentley models will be hybrids by 2026, he says.
PHEVs accounted for 27% of Bentley’s sales in 2023, with the V-6 PHEV offered in the Bentayga and Flying Spur. With the addition of the V-8 PHEV power in the Continental GT and Flying Spur, Hallmark says he expects a “massive” increase in PHEV sales in coming years, although specific estimates were not available.
Overall, Bentley delivered 13,560 units in 2023, third highest in company history, but down 11% compared with 2022. Bentley’s profit declined 17% year-over-year, generating $645 million on revenue of $3.2 billion. The company enjoyed increased sales of high-margin models and optional luxury content from the brand’s Mulliner division, the company says in a statement.
