Bentley's first EV Torcal priced from 1.988 million yuan in China, lowest entry point in brand history

By Guan Che Jun

On September 23, Bentley unveiled the Torcal, the first all-electric model in the brand's history, at a global launch event in London. The new vehicle marks the fourth standalone model line for Bentley, 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 represents the lowest price threshold in Bentley's history for any model currently on sale.

A Significant Price Reduction

During the internal combustion engine era, Bentley's flagship model, the Bentayga, had a starting price consistently above RMB 2.7 million, while the Continental GT and Flying Spur commanded even higher entry points. Against this backdrop, the Torcal's starting price of RMB 1.988 million effectively lowers Bentley's entry barrier by nearly RMB 700,000—a substantial move.

A Strategic Gap in the Market

From a competitive standpoint, this price segment occupies a unique vacuum. Above it, the Rolls-Royce Spectre targets the ultra-luxury segment with a significantly higher starting price. Below it, the Porsche electric Cayenne and Range Rover electric models sit in the premium luxury category, yet have not reached the brand premium commanded by ultra-luxury marques.

The Torcal is clearly positioning itself to capture the RMB 2 million-level ultra-luxury electric SUV segment—a niche that has remained largely unoccupied.

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 the company remained profitable for the seventh consecutive year, but operating profit fell by over 42% year-on-year to €216 million. Revenue edged down 1% to €2.6 billion.

The sharp profit decline was attributed to two main factors:

• 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 total workforce.

Looking back to 2021, Bentley's annual sales in China peaked at over 4,000 units. By 2025, however, full-year sales had dropped to roughly 2,000 units—a decline of about 50%.

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

A Shift in Electric Vehicle Strategy

Against the backdrop of a struggling ultra-luxury market, Bentley has shelved its original target of a fully electric lineup by 2030. The CEO has publicly stated that the launch of the next all-electric model has been postponed to after 2030.

This means the Torcal will bear the sole responsibility of pioneering Bentley's electric transformation. Its market performance will directly influence the brand's timeline for subsequent electric models.

In recent years, global automakers pursued aggressive electrification targets, with many brands committing to full electrification by 2030. However, over the past two years, ultra-luxury brands have collectively revised their strategies. Rolls-Royce, Ferrari, Lamborghini, and Bentley have all moved away from a rigid phase-out of internal combustion engines, instead adopting a long-term coexistence strategy of gasoline, plug-in hybrid, and all-electric powertrains.

Bentley has not abandoned its gasoline and plug-in hybrid product lines with the introduction of the Torcal. The Torcal is a new, fourth product line—not a replacement for existing models.

The Challenge of an Uncertain Customer Base

The reasoning behind this is clear. Traditional wealthy buyers remain deeply attached to the sound of large-displacement engines, mechanical质感, and handcrafted artistry. Their purchasing decisions for ultra-luxury vehicles are not driven by range or charging speed.

In the author's view, Bentley's product strength is beyond doubt. Its greatest challenge lies in the uncertainty of its customer base.

According to Bentley, the average age of Chinese Bentley owners is currently under 40—the youngest Bentley customer demographic globally. In the past, the brand's primary buyers were successful entrepreneurs over 45, who valued the distinctive roar and commanding presence of V12 engines.

Today, the proportion of post-90s customers placing orders has risen significantly. They care more about personalized details: whether wood panels can be engraved with family crests, or whether interior colors are truly unique.

On one hand, this trend presents an opportunity for the Torcal. Its starting price of RMB 1.988 million, combined with the tech-forward appeal of an all-electric powertrain, aligns well with the preferences of younger high-net-worth individuals.

On the other hand, in the Chinese market, domestic high-end new energy models such as the NIO ET9, Huawei-backed Stelato S800, and Yangwang U8 have already pushed into the million-yuan price range. While these brands still lag behind Bentley in brand premium, their penetration among high-net-worth individuals is rapidly increasing.

The Bet on Brand Power

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

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

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