Bentley’s debut EV drives £1bn motoring investment surge in a week
Britain’s automotive industry is set to get an extra £350m of investment as Bentley drives new funding into its headquarters in Crewe to build its first fully electronic vehicle, marking the third major boost in a week for the sector. The announcement takes the total figure of fresh investment into the UK’s automotive industry in [...]
Bentley's debut fully electric vehicle, the Torcal, is set to boost the UK's automotive industry with an extra £350m investment, marking the third major funding increase in a week. The announcement comes after both McLaren and Nissan injected £500m and £170m, respectively, into the sector. Business secretary Jonathon Reynolds praised Bentley's move, stating it demonstrates confidence in Britain's automotive capabilities.
The Torcal, designed, engineered, and built in Britain, will support around 4,000 existing jobs in Crewe, making it one of the largest employers in the area. Dr Frank-Steffan Walliser, Bentley's chairman and CEO, emphasized that the Torcal is not only a Bentley first but also a testament to Britain's design, engineering, and manufacturing prowess.
As part of the investment, Bentley has upgraded its Crewe site, investing in new manufacturing, design, and logistics capabilities, alongside workforce training. Meanwhile, Jaguar Land Rover announced plans for job cuts as it attempts to cut £1.7bn from its costs over the next two years, reiterating the challenges facing the sector.
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