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By Shubhangi Mathur, 5:15 PM ET
· Rolls-Royce announced that they will produce only electric cars by 2030
· Rolls-Royce’s first fully electric car to be available in 2023
· Land Rover and Bentley had also announced to go all-electric
BMW-owned Rolls-Royce said on Wednesday it will produce only electric cars by 2030 with its first fully electric powered car, Spectre, to be available in the market in the fourth quarter of 2023.
With this new product we set out our credentials for the full electrification of our entire product portfolio by 2030, said Torsten Muller-Otvos, CEO of Rolls-Royce.
By then, Rolls-Royce will no longer be in the business of producing or selling any internal combustion engine products, Muller-Otvos added.
BMW subsidiary Mini also announced in March it would produce all-electric vehicle by the end of the decade.
BMW aims to achieve the goal of 50% electric vehicle production by 2030 but has not declared any deadline to end the production of fossil fuel burning cars.
Jaguar’s Land Rover had also announced to go all-electric by 2025 while Volkswagen’s Bentley Motors has set the goal for 2030.
Mercedes Benz maker Daimler also plans all-electric vehicle production by 2030.
(With inputs from Reuters)