Luxury carmaker Bentley announced plans to roll out a new electric vehicle every year for five years starting from 2025, after a recent report said the company’s annual profit had increased dramatically.
The Crewe, UK-based Bentley posted a profit of 389 million euros (427.1 million US dollars) for 2021, compared with a profit of 20 million euros a year earlier.
It came after shipments jumped 31 percent on demand for new Bentley hybrid models.
Automakers around the world are redoubling efforts to switch to electric models due to demand for more environmentally friendly engines.
Bentley’s parent Volkswagen is increasing investment in electric infrastructure to face competition from Tesla.
Bentley itself targets to sell 100 percent of electric vehicles by 2030. Bentle has invested 3 billion euros in its Crewe plant to help transition to the era of electric vehicles.
“Increasing demand for our hybridized model, supported by (3 billion euros) continued investment in our Crewe plant, will ensure we remain the benchmark manufacturer in sustainable luxury mobility,” said Jan-Henrik Lafrentz, board member for Finance and IT at Bentley.