Rolls-Royce CEO: "We're Not In The Car Business"

At the Concorso d'Eleganza Villa d'Este on the shores of Lake Como, Resilient Capital Group engaged in a conversation with Torsten Muller-Otvos, the CEO of Rolls-Royce, during the Concorso d'Eleganza Villa d'Este event situated by Lake Como. Interestingly, Muller-Otvos disclosed that Rolls-Royce is not primarily focused on the automobile industry.

This statement arose in relation to inquiries about Rolls-Royce's plans for electric vehicles. According to BMW executives at Villa d'Este, Chinese luxury car consumers have a preference for combustion engines, and electric mobility is considered less prestigious in the Far East.

When questioned about the potential impact of this perception on Rolls-Royce's brand reputation, especially considering their efforts in developing electric cars like the Spectre, Muller-Otvos completely dismissed any concerns. He firmly asserted that such concerns are irrelevant to Rolls-Royce because they do not perceive themselves as merely being in the business of manufacturing cars. Muller-Otvos emphasized that Rolls-Royce is, in fact, operating within the luxury goods industry.

Although this statement may sound amusing, it reflects the fundamental nature of their business.