Can a car with a base price of $215,000 ー just about the same price of the average home in the U.S. ー be considered a "starter sedan"? If it's a Bentley, maybe.
The British luxury automaker, a subsidiary of Volkswagen, is celebrating its 100th year with an update to its Flying Spur model, which recently debuted among the world's rich and famous in Monte Carlo. Back in the U.S., Bentley Motors CEO Christophe Georges is thinking about the future of the iconic motor company.
Georges told Cheddar that going electric is "essential" to the company's future. As part of the anniversary celebrations, Bentley is showing off a new prototype for its first all-electric sedan, dubbed the EXP 100. Georges said the first fully electric Bentley will be in showrooms by 2025, with plug-in hybrid models arriving in 2023. That's a pivot, of sort, from Bentley, which has been slow to adopt electrification given its high-end customer base that demands performance and is not so concerned with the cost of gas.
As a British company, thought, there is a more pressing issue at hand for Georges: Brexit. He said Bentley, like other UK-based firms, has worked diligently to prepare for all scenarios, including "the worst possible case, which would be a no-deal Brexit." Bentley has built a new warehouse that Georges said will help it maintain its supply chain even in the event of a "crash out," which seems less likely now that a tentative deal has been reached.
Georges also said that the trade war between the U.S. and China has not impacted Bentley's operations, and indeed the company's growth in China has been "substantial," with 1 in 5 luxury cars on Chinese roads now carrying the iconic Bentley hood emblem, he said.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
