Main topic: BMW's progress in electric vehicle sales and investment in e-mobility.
Key points:
1. BMW's electric vehicle sales increased to 12.6% of total deliveries in the first half of 2023, up from 10% in 2022.
2. The company aims to achieve a 15% share of battery-electric sales by the end of 2023.
3. BMW is investing more than originally planned in the global ramp-up of e-mobility due to increasing demand for electric cars.
4. The automaker increased its research and development spending by nearly 19% in Q2 2023, reaching about $2 billion.
5. BMW has not set an end date for selling combustion engine vehicles, stating that there is no indication that the world is renouncing them.
6. This contrasts with other automakers like Mercedes-Benz, Ford, and GM, which have plans to phase out combustion-engine sales by 2040.
The new Mini Cooper E and SE, designed as dedicated electric vehicles, are best suited for city dwellers due to their compact size, modest charging speed, and range.
BMW-owned British brand Mini has fully revealed its all-new electric Mini Cooper, available in two versions (Mini Cooper E and Mini Cooper SE), featuring an electric motor with up to 214 horsepower, a 40.7-54.2 kWh battery, a WLTP-rated range up to 249 miles, and a minimalist interior with a 9.44-inch central display running Mini Operating System 9.
German automaker BMW has unveiled its electric concept car, the "Vision Neue Klasse," which will serve as the foundation for the brand's next generation of electric vehicles, featuring improved battery cells that enhance charging speed and range, with plans to launch the first models in 2025.
BMW and Mercedes are intensifying their efforts in the electric vehicle market, unveiling new platforms and concept cars in response to competition from Chinese automakers and Tesla, although they may still lag behind in certain aspects.
Mercedes-Benz aims to sell only electric vehicles by 2030 and has introduced a new electric-sedan concept vehicle at a German motor show with superior range compared to Tesla's Model 3.
The IAA Mobility 2023 auto show in Munich showcased the heightened competition between European and Chinese automakers, with Audi unveiling the Q6 e-tron's new cockpit, BMW introducing the Vision Neue Klasse electric concept car, BYD unveiling its new EV lineup for the European market, Mercedes announcing a smaller, cheaper G-Wagon EV and the CLA EV concept car, Mini upsizing its largest model, Renault introducing the Scenic E-Tech SUV and Grand Kangoo E-Tech, Tesla revealing a refreshed Model 3, Volkswagen launching a high-powered small EV, and XPeng bringing the G6 SUV to Europe next year.
BMW is leading the way in electrification among traditional luxury carmakers, with a significant increase in sales of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) in the first three quarters of 2023. Other German luxury brands, such as Mercedes and Audi, are also experiencing growth in the EV market, but BMW is currently ahead.
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