Bentley Motors is planning to spend $3.4 billion to go fully electric by 2030.
The luxury automaker plans to spend the investment in research and development.
In addition, Bentley will retool and significantly update their historic plant campus in Crewe, England.
The move to electrify is not a surprise for Bentley. The company announced its electrification target in 2020 as part of its “Beyond100” business transformation plan. However, this is the first time Bentley released the total investment number, according to CNBC.
As per the company, Bentley‘s first EV will roll off their production line in 2025. Then, the company will release a vehicle per year until 2030 for a total of five new cars.
However, one of the most significant changes is that Bentley will lean on plug-in hybrid EVs to transition to pure EVs. The company will cease producing pure internal combustion engines beginning in 2026.
Plug-in hybrids are not new to the company. Currently, Bentley offers the Bentayga SUV and the Flying Spur sedan in a plug-in hybrid form. Bentley will add another five plug-in hybrid vehicles to its lineup in 2022.
Bentley did not confirm what vehicle in their lineup will be the first to go fully EV in 2025.