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Luxury carmaker Rolls-Royce to switch to all electric range by 2030 By Reuters

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© Reuters. FILEPHOTO: A Rolls-Royce Black Badge Dawn car badge can be seen at a London dealership on October 27, 2020. REUTERS/Peter Cziborra/File Photo

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BERLIN (Reuters) – Rolls-Royce (OTC:) will produce only electric cars by 2030, the luxury carmaker said on Wednesday, joining other premium brands making the switch such as Volkswagen (DE:)’s Bentley and Jaguar’s Land Rover.

According to the BMW brand, its first electric-powered car will go on sale in the fourth quarter, 2023. Tests are expected to start soon.

Torsten Muller-Otvos (CEO of Rolls-Royce), stated, “With this new car we set out our credentials to the full electrification our entire product range by 2030.”

Muller-Otvos stated that Rolls-Royce won’t be selling or producing internal combustion engine products by then.

BMW did not establish a deadline for the production of fossil fuel-burning cars. Instead, it set a goal to produce 50% of electric vehicles by 2030. However, its subsidiary Mini stated in March that it will go entirely electric by the end the decade.

The Jaguar brand of Tata Motors (NYSE:)’ Jaguar Land Rover will go all-electric by 2025, Volkswagen AG (OTC:)’ luxury unit Bentley Motors by 2030, and Mercedes Benz maker Daimler (OTC:) by the same year, if market conditions allow.

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