BMW Group to ramp up BEV production

The BMW Group announced that it will ramp up its battery-electric vehicle (BEV) production in 2023, which prompts the conglomerate to expect an increase in profit for the said year.

Additionally, the BMW Group is also expecting its entries in the high-end premium segment to boost its earnings for 2023.

Models like the BMW 7 Series, the updated X7, and the Rolls-Royce model family, are expected to create growth for the consortium in the “mid-double-digit percentage range,” with BEV models “even likely to grow in the high double-digit percentage range.”

“Substance is convincing — and this is where our models speak for themselves. That is why we are striving for further significant growth in fully-electric vehicles this year and expect them to account for 15 percent of our total sales,” said BMW Chairman of the Board of Management Oliver Zipse.

The start of 2023 proved to be promising for the BMW Group as the firm was able to more than double its sales of fully-electric vehicles in January and February, especially in China.

With the launch of the new BMW 5 Series and the fully-electric i5 this year, the BMW Group will have a BEV offering in virtually every major segment of its business. The range will be rounded out at the end of the year by the fully-electric iX2, and to follow through, the company will release the first fully-electric touring 5 Series next year.

The BMW Group plans to use this momentum to dynamically grow its BEV portfolio in the coming years. In 2024, at least one in five of the company’s new cars will have a fully-electric drive train.

In addition, Neue Klasse — the BMW Group’s architecture for electric, hydrogen, and connected vehicles — has the potential to further accelerate the market penetration of e-mobility with its convincing product substance.

“Proven strengths, future-oriented technologies, and the Neue Klasse — that is our recipe for success in the coming years. With this combination, we are in the right position to be able to respond precisely to different developments in the various regions of the world,” Zipse added.

On that note, BMW and Mini (two brands under the BMW Group) will become electric-only marques in less than 10 years.

Photos from BMW Group

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