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    VOW3   DE0007664039

VOLKSWAGEN AG

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Bentley to produce first fully electric car in 2025

01/26/2022 | 06:51am EDT
The badge of a Bentley motor car is seen outside a showroom in Knutsford

LONDON (Reuters) - Luxury British carmaker Bentley said on Wednesday it would start production of its first fully-electric car in 2025, a significant milestone in the Volkswagen AG unit's planned shift to a fully-electric model line-up by 2030.

Bentley also committed to investing 2.5 billion pounds ($3.4 billion) in sustainability over the next decade.

The carmaker said it would reconfigure its UK plant in Crewe to build the new vehicle. It did not provide further details on what form its first fully-electric vehicle will take.

Across the auto industry, major manufacturers have been rolling out plans to electrify their car ranges, with looming fossil-fuel car bans spurring them on to make huge investments in the new technology.

Earlier this month, Bentley said it had cruised to a record year in 2021 as global sales jumped 31% amid strong demand for high-end vehicles.

($1 = 0.7426 pounds)

(Reporting by Nick Carey; Editing by Mark Potter)

By Nick Carey


© Reuters 2022
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Financials
Sales 2022 269 B 280 B 280 B
Net income 2022 16 379 M 17 040 M 17 040 M
Net cash 2022 32 698 M 34 018 M 34 018 M
P/E ratio 2022 4,43x
Yield 2022 6,11%
Capitalization 86 223 M 89 704 M 89 704 M
EV / Sales 2022 0,20x
EV / Sales 2023 0,17x
Nbr of Employees 668 294
Free-Float 56,8%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 144,74 €
Average target price 222,67 €
Spread / Average Target 53,8%
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Managers and Directors
Herbert Diess Chairman-Management Board
Arno Antlitz Head-Finance & Information Technology
Hans Dieter Pötsch Member-Management Board
Thomas Schmall-von Westerholt Head-Technology
Kurt Michels Chief Compliance Officer
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