BMW is pumping more cash into EVs ‘than originally planned’
BMW's progress in electric vehicle sales and investment in e-mobility.
Key points:
- BMW's electric vehicle sales increased to 12.6% of total deliveries in the first half of 2023, up from 10% in 2022.
- The company aims to achieve a 15% share of battery-electric sales by the end of 2023.
- BMW is investing more than originally planned in the global ramp-up of e-mobility due to increasing demand for electric cars.
- The automaker increased its research and development spending by nearly 19% in Q2 2023, reaching about $2 billion.
- BMW has not set an end date for selling combustion engine vehicles, stating that there is no indication that the world is renouncing them.
- This contrasts with other automakers like Mercedes-Benz, Ford, and GM, which have plans to phase out combustion-engine sales by 2040.