Bentley's first EV Torcal starts at 1.988 million yuan in China, setting brand's lowest entry price

By Guan Che Jun

On September 23, Bentley unveiled the Torcal in London—the first fully electric model in the brand's history. The Torcal becomes Bentley's fourth standalone model line, joining the Continental GT, Flying Spur, and Bentayga.

On September 24, Bentley confirmed to the Shanghai Securities News that the manufacturer's suggested retail price in China starts at RMB 1.988 million (excluding retail taxes and optional extras). In the author's recollection, this marks the lowest price threshold in Bentley's history for any model currently on sale.

A Significant Price Drop

During the fuel era, Bentley's flagship Bentayga had a starting price consistently above RMB 2.7 million, while the Continental GT and Flying Spur were even higher. With the Torcal priced from RMB 1.988 million, Bentley has effectively lowered its entry point by nearly RMB 700,000—a substantial move.

A Strategic Gap in the Market

From a competitive standpoint, this price point occupies a unique vacuum:

• Above: Rolls-Royce's Spectre is positioned at the top end of luxury, with a significantly higher starting price.
• Below: The Porsche electric Cayenne and Range Rover electric models fall into the premium luxury segment, without yet commanding the brand premium of ultra-luxury marques.

The Torcal appears designed to capture the RMB 2 million ultra-luxury electric SUV segment—a largely untapped niche.

Bentley's Current Reality

To understand the Torcal's pricing and positioning, one must consider Bentley's present challenges.

Bentley's 2025 financial report showed a seventh consecutive year of profitability, but operating profit fell more than 42% year-on-year to €216 million. Revenue edged down 1% to €2.6 billion.

Key factors behind the profit decline:

• US tariffs caused approximately €42 million in losses in 2025.
• Cooling demand in China's luxury car market.

During the same period, Bentley announced 275 job cuts, representing about 6% of its workforce.

In 2021, Bentley's sales in China peaked at over 4,000 units. By 2025, annual sales had dropped to roughly 2,000 units—a decline of about half.

In the first half of 2026, Bentley delivered 4,211 vehicles globally, down 13.6% year-on-year. Industry data shows its Chinese import retail sales fell approximately 34% year-on-year.

A Shift in Electric Strategy

Under pressure across the ultra-luxury market, Bentley has shelved its original goal of a fully electric lineup by 2030. The CEO has stated that the next electric model's launch will be delayed until after 2030.

This means the Torcal will serve as Bentley's sole electric pioneer, and its market performance will directly influence the brand's timeline for future EV products.

In recent years, global automakers pursued aggressive electrification targets, with many aiming for full electrification by 2030. However, ultra-luxury brands have collectively adjusted course: Rolls-Royce, Ferrari, Lamborghini, and Bentley are no longer phasing out internal combustion engines entirely, instead adopting a long-term strategy of coexisting fuel, plug-in hybrid, and electric powertrains.

Bentley has not abandoned its fuel and plug-in hybrid lines with the Torcal's launch. The Torcal is a new fourth product line, not a replacement for existing models.

The Challenge: An Uncertain Customer Base

Bentley's product strength is undeniable, but its biggest challenge lies in customer uncertainty.

According to Bentley, the average age of Chinese Bentley owners is now under 40—the youngest customer base globally. Historically, Bentley's primary buyers were successful entrepreneurs over 45 who valued the powerful roar and commanding presence of V12 engines.

Today, a growing proportion of orders come from post-90s customers, who prioritize personalized details: whether wood panels can be engraved with family crests, or whether interior colors are truly unique.

This trend presents an opportunity for the Torcal. A starting price of RMB 1.988 million, combined with the tech-forward appeal of an electric powertrain, aligns well with the preferences of younger high-net-worth individuals.

However, in China, domestic high-end new energy models such as the NIO ET9, Hengchi S800, and Yangwang U8 have already entered the million-yuan price bracket. While these brands still lag behind Bentley in brand premium, their penetration among high-net-worth consumers is rising rapidly.

The Bet

Ultimately, Bentley is betting that the "Bentley" name can still command a brand premium in the electric era. The answer to that bet will become clear by the summer of 2027. But one thing is certain: no one can claim that ultra-luxury electrification is a sure thing.

Note: Charts not attributed in this article are sourced from publicly available disclosures. The views expressed are for reference only and do not constitute investment advice.

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