Rolls-Royce Motor Cars has abandoned its ambition to become a fully electric brand by 2030, marking a significant shift in strategy as the global transition to electric vehicles shows signs of slowing at the very top end of the automotive market.

The decision, confirmed by chief executive Chris Brownridge, reverses a high-profile commitment made in 2022 under his predecessor Torsten Müller-Ötvös, who had pledged that Rolls-Royce would cease production of its iconic V12 combustion engines by the end of the decade.

At the time, the company positioned its first electric model, the Spectre, as the beginning of a rapid transition, targeting 20 per cent of annual sales in the near term and as much as 70 per cent by 2028. The long-term ambition was clear: a complete shift away from internal combustion engines within eight years.

However, Brownridge has now acknowledged that the assumptions underpinning that strategy have changed materially. He pointed to a combination of softened customer appetite for fully electric luxury vehicles and a broader easing of regulatory pressure in key markets.

“For every client that loves an electric vehicle there is one who does not,” he said, underlining the continued demand among Rolls-Royce’s ultra-high-net-worth clientele for traditional powertrains. “Some clients do want an electric vehicle, we build what is ordered.”

The recalibration reflects a wider industry trend, particularly among premium and luxury manufacturers, where the pace of electrification is proving more uneven than previously anticipated. While mass-market brands continue to push towards electrification, high-end marques are increasingly adopting a more flexible, demand-led approach.

Brownridge was careful not to outline a revised electrification timeline, declining to specify new targets for zero-emission sales or confirm how many additional electric models Rolls-Royce plans to introduce. Nor did he disclose current sales performance for the Spectre, though its market reception has been closely watched as a bellwether for electric adoption in the luxury segment.

Instead, the emphasis appears to be shifting towards optionality rather than outright transition. The V12 engine, long synonymous with Rolls-Royce’s heritage and brand identity, will remain part of the company’s offering for the foreseeable future.

“The V12 is part of our history,” Brownridge said, suggesting that legacy and customer preference are now being given equal weight alongside environmental considerations.

The move comes amid a broader reassessment of electric vehicle strategies across the luxury automotive sector. Just a day earlier, Bentley confirmed that its own transition to an all-electric lineup would be delayed, with its first zero-emission model now expected at least two years later than originally planned.

Together, the announcements highlight a growing divergence between policy ambition and market reality. While governments continue to push for decarbonisation, including through bans on new petrol and diesel vehicles in the 2030s, manufacturers are increasingly signalling that consumer demand, particularly at the premium end, may not align neatly with those timelines.

Rolls-Royce’s original 2030 commitment was made at a time of strong political momentum behind electrification and rising optimism about battery technology, infrastructure rollout and customer adoption. Since then, a more complex picture has emerged, with concerns around charging infrastructure, range anxiety and the experiential differences between electric and combustion engines influencing buyer behaviour.

In the ultra-luxury segment, where emotional connection and heritage play a significant role in purchasing decisions, those factors appear to be even more pronounced.

Despite stepping back from a fixed deadline, Rolls-Royce is not abandoning electrification altogether. The Spectre remains a central part of its future portfolio, and the company is expected to continue investing in electric technology. However, the transition will now be paced according to customer demand rather than dictated by a hard deadline.

The shift underscores a broader reality facing the automotive industry: the road to electrification is unlikely to be linear. For Rolls-Royce, the strategy now appears to be one of balance, preserving its legacy while adapting to a changing, but still uncertain, future.

Paul Jones

Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.

It has been appointed sold agent for the remaining stake in the park owned by Cardiff Gate International Business Park Ltd

Property advisory firm JLL has been appointed as the sole agent for the letting and sale of the remaining Cardiff Gate International Business Park owned assets of Cardiff Gate Business Park Ltd.

The park was originally 100% owned and developed by Cardiff Gate Business Park Ltd and over the last 30 years various parts of the park have been developed and sold.

The developer currently owns around 25% of the park, that includes 55,000 sq ft office space.

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The portfolio of Cardiff Gate Business Park Ltd includes a mix of let and vacant office buildings as well as approximately 20 acres of prime development land. The first investment being marketed by JLL on behalf of Cardiff Gate Business Park Ltd is 20,325 sq building let to Regus with an asking price of £3m.

Last year JLL acted for SSE who owned Ty Meridian on the park, in a letting deal creating a new HQ for Creditsafe. The investment was subsequently sold. It also disposed of the investment in the Cardiff Audi site on behalf of a private investor.

The business park benefits from being adjacent to the established Cardiff Gate Retail Park and the Pontprennau residential estate with a new 2,500 unit residential development proposed to the west of the park.

Rhydian Morris of the Cardiff office of JLL, said “Our team has a strong track record at Cardiff Gate, which includes the investment sale of the 35,000 sq ft Cardiff Audi dealership as well as the 50,000 sq ft Creditsafe occupier letting and subsequent investment sale of Ty Meridian.

“We are delighted to be the sole adviser to Cardiff Gate Business Park Ltd and given the quality and variety of available buildings and development sites, we are confident they will generate strong interest from the market.”

US firm Huntsman Corporation is considering closing its Wilton International site where around 100 people work producing aniline

The American owner of a Teesside chemical plant is reportedly mulling its closure amid soaring energy costs. Approximately 100 people work at Huntsman’s Wilton International site, producing the versatile polymer used in everything from coatings to adhesives.

The company is led by chairman and chief executive officer Peter Huntsman, who assumed control of the family firm in 2000, having driven forward the acquisition of ICI’s industrial chemicals business the year before.

The Redcar factory is one of the last surviving plants of the former ICI group and Huntsman’s sole North East site, manufacturing aniline, a chemical used in a range of products including car seats, textiles, agricultural chemicals, herbicides, photographic chemicals and aircraft components.

However, bosses say sourcing basic raw materials in the UK can now cost up to seven times higher than overseas.

As a result, the company is reportedly contemplating shutting the Wilton plant if energy prices remain at current levels for the next three months. Mr Huntsman stated the recent surge in gas prices as a result of the Middle East conflict was proving to be “another nail in the coffin” for industry in Europe.

Last year the global business unveiled a $100m cost-cutting programme which included 600 job losses and the closure of seven sites in Europe. Huntsman Corporation, which has its headquarters in Texas, owns and operates more than 60 plants across the US, Europe, south-east Asia and the Middle East, but states that its UK and European sites are more exposed to international gas markets, where prices have climbed to their highest level since the start of the Ukrainian conflict.

Mr Huntsman stated: “You’re not seeing this in China, America or the Middle East, surprisingly, where the war is. You’re seeing it in the EU and the UK, and they’re being hit the hardest.”, reports Teesside Live.

“If today’s economics were to stay in place for the next three months, I would shut down my [UK] facility and I’d be importing product from China or the United States. Four years ago, my lowest cost aniline in the entire world came from the UK. That’s how recently I was competitive. Right now, this week, it is the most expensive.

“We used to have more investment in the UK than we did in North America. It was a vital footprint to our company. And today we’re down to one asset left there. I’ve laid off enough people in the UK that it is one of the greatest disappointments of my entire career.”

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