- Oliver Zipse, Chairman of the Board of Management at BMW AG, says that the company is still committed to making battery-electric cars the majority of Group deliveries by 2030.
- In 2023, BMW sent 375,000 BEVs around the world, which is almost 75% more than in 2022.
- To make up for its move toward electric cars, BMW plans to offer four engine options in some models, like the 5-Series, over the next few years.
Just a few years ago, automakers said that electric vehicles (EVs) would rule the market by the end of the decade. Now, many of them are lowering their goals for electrification. In fact, some automakers think that sales of EVs will level off in the beginning. But the plateau could be very different based on where it is.
Because of worries about the EV market, there were more EV startup bankruptcies and price disputes at Ford and other automakers in early 2023.
What is BMW changing? Oliver Zipse, Chairman of the Board of Management at BMW AG, told owners at the company’s annual meeting that by 2030, about half of the cars the company sells should be electric. We’re still committed to this aim and modifying the ramp-up to demand. We can yet alter our minds in 2030.
True, BMW didn’t set a firm date for switching to electric cars because they knew that buyers would still want gas-powered cars in addition to plug-in hybrids. Even though it looks like EV sales are going down, many makers have said that sales have been going up over the last year. We can find the right drivetrain for everyone. Zipse warned that doing otherwise would hurt business.
For the best example of this method, look at the BMW 5-Series, which comes in gas, diesel, plug-in hybrid electric, and battery-electric versions. In fact, BMW thinks that 20% of all 5-Series sales in Europe will be the PHEV version.
BMW has yet to see any proof of the supposed drop in desire for electric vehicles. Zipse says the company shipped 375,000 BEVs around the world in 2023, which is about 75% more than in 2022.
The first Neue Klasse EVs will soon be on the market. BMW has invested a lot of money into this new generation of electric and electrified cars, which will replace the i3, i8, i5, and i7 models that have been available for purchase for the past decade.
Zipse was positive about the growth of demand for BEVs from BMW Group brands in the coming year. Zipse says that we expect slightly more sales than last year and a much larger share of all-electric vehicles. Zipse also said that Chinese companies that make electric cars and have joined the European market could be hit with new taxes in the future.
Zipse says that in 2023, China provided about 20% of the BEVs sold in Europe. In her speech, she said that protectionism starts a downward spiral in which tariffs lead to more tariffs and more protectionism instead of cooperation.
Some European makers still have to deal with tough competition from Middle Eastern exports, though. This is why the rise of electric vehicles (EVs) from China is likely to become the main topic of auto talks in both Europe and the US soon. Other countries already have electric cars that compete with BMW’s, and demand is still rising in key areas. As the use of electric vehicles grows in Europe, BMW will have to worry about more than just Tesla.
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