Rolls-Royce is to follow its car manufacturing peers by ceasing the production of petrol and diesel vehicles by 2030.

It will unleash its first fully electric vehicle, called Spectre. in Q4 2023 and, in a statement, CEO Torsten Muller-Otvos revealed it's the beginning of a new future for the luxury brand: "With this new product we set out our credentials for the full electrification of our entire product portfolio by 2030," he said.

Rolls-Royce is owned by BMW, which has already committed to going all-electric with is Mini range by the same date. It also follows similar plans by fellow premium car manufacturers, such as Jaguar Land Rover and Bentley.

The date is not random neither. The UK government will prohibit the sale of fossil fuel vehicles from the end of the decade, with hybrids sales to be stopped five years later.

And, while Rolls-Royce is no longer solely a British brand, the UK is still one of its important markets.

"Rolls-Royce will no longer be in the business of producing or selling any internal combustion engine products," added Muller-Otvos.

No details or images of Spectre have been released so far, but we should hear more by the turn of the year.