Bentley to invest $3.4 billion to become fully electric by 2030

Jan. 26 (UPI) -- Bentley has joined the race for EVs, promising to become a fully electric luxury brand by 2030 with a $3.4 billion investment in sustainability announced Wednesday.

The investment will fund significant upgrades to Bentley's manufacturing campus in Crewe, England, and deliver the company's first all-electric vehicle in three years.

The 102-year-old carmaker owned by Volkswagen announced its electrification target in 2020 as part of its "Beyond100" business transformation plan.

Adrian Hallmark, chairman and CEO of Bentley Motors called the plan, which includes a shift to all all battery-powered electric vehicles, "an ambitious and credible roadmap to carbon neutrality."

"Our aim is to become the benchmark not just for luxury cars or sustainable credentials but the entire scope of our operations," he said in a statement. "Securing production of our first BEV in Crewe is a milestone moment for Bentley, and the U.K., as we plan for a long-term sustainable future in Crewe."

Bentley aims to become end-to-end carbon neutral by 2030.

The company will rely on plug-in hybrid vehicles to transition to its all-electric fleet. It currently offers a plug-in hybrid version of its Bentayga SUV and Flying Spur sedan.