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Bentley's first electric car will arrive in 2025 at the earliest

Now that it's back in the black, Bentley is busily planning its move into the electric car segment. The company's chief executive shed light on how his team will link the past and the future. When it comes to new products, company boss Adrian Hallmark told Automotive News Europe that "it's all about electrification." The first Bentley with a plug is the Bentayga Hybrid unveiled at the 2018 Geneva Motor Show. Looking ahead, an electric car will join the range, but executives haven't decided what form it will take, or what it will be powered by. Several options remain on the table. What's certain is that Bentley won't stuff an electric powertrain into one of the cars in its current portfolio. "We could take one of the existing nameplates, and that could be the first electric car, but we wouldn't take an existing car and try to fit batteries into it, because there's a compromise from a range and efficiency point of view," Hallmark explained. The challenge isn't simply to make an electric Bentley; the British firm wants to ensure its first battery-powered model credibly lives up to the badge on its nose. That means it needs to blend effortless power with an acceptable amount of driving range. Bentley is part of Volkswagen, so using one of the platforms in the group's growing arsenal of architectures isn't out of the question. And, Hallmark affirmed engineers will take advantage of the innovative packaging possibilities made possible by electric powertrains. He explained the firm isn't about to release a Mini, but an electric Bentley could have a smaller footprint than, say, a Mulsanne while offering a comparable amount of interior space. He cited the Jaguar I-Pace as an example, which he said is nearly 14 inches shorter than Land Rover's Range Rover, yet is about as spacious inside because electric motors require less space than a comparable gasoline- or diesel-burning engine. The trade-off is that an electric Bentley would need a sizable battery pack, and designers would likely have to put the car on stilts to leave enough room in the cabin for people and gear if they were to pen an electric car in 2020. Solid-state battery technology will solve that problem when it's ready for production, according to Hallmark, though he didn't reveal whether he's open to waiting for the new chemistry or if Bentley's first electric car will ship with a lithium-ion battery pack.

Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Lamborghini could be sold or spun off from the Volkswagen Group

Volkswagen is reportedly considering a sale or stock listing for its high-end Lamborghini brand. The German automaker is looking to fold the Italian supercar brand into a separate legal entity, reports Bloomberg, which cites "people familiar with the matter" who don't want to be identified "because the deliberations are confidential and no decisions have been made." Any of this sound familiar? The goal of spinning off Lamborghini would be to stockpile more cash and other resources for VW's massive planned push into electric vehicles. Back in March, reports circulated that Volkswagen's "Vision 2030" corporate plan might include plans to focus on the brand's core brands — VW, Audi and Porsche. That means the futures of fringe players like Lamborghini, Bentley, Bugatti, motorcycle brand Ducati and design firm Italdesign (and note this isn't a comprehensive list of brand's under the expansive VW Group umbrella) are up in the air. VW, according to the report, is targeting a market value of $220 billion, which is a big jump from the brand's current $89 billion valuation. Bloomberg pegged Lamborghini's valuation at around $11 billion back in August, buoyed by sales and profits generated by the introduction of the Urus sport utility vehicle. On the flip side, Lamborghini is currently grappling with how best to update its supercar lineup in the face of ever-increasing emissions regulations.