BMW has defied expectations, becoming a major player in the electric vehicle (EV) market.
This achievement is notable because BMW manufactures its EVs alongside traditional gasoline cars in Munich.
Analysts criticized BMW’s unified body design for all propulsion types, fearing it might hinder competition with Tesla and Chinese EV manufacturers.
Yet, BMW‘s strategy proved successful. The company sold 376,000 electric vehicles last year, a 75% increase, placing it second only to Tesla in luxury.
EVs constituted 15% of BMW’s 2023 sales, up from 9% the year before, despite a slowdown in global EV sales growth.
BMW’s profitable EV sales show established automakers can compete effectively amidst the evolving automotive landscape, unlike GM or Ford.
BMW’s approach enabled the gradual development of battery tech and electric models, accommodating customers not yet ready for radical shifts.
CEO Oliver Zipse emphasized the importance of not alienating traditional clients and advocating for a smooth transition.
Next year, BMW will introduce the Neue Klasse, a series designed solely for electric power, promising significant advancements, including more efficient batteries.
These new models will feature technology absent in Tesla cars, such as a windshield-spanning digital screen for critical driving information, enhancing safety and convenience.
Additionally, BMW plans to introduce advanced autonomous driving features, positioning itself as a formidable competitor to Tesla’s autopilot system.
The launch of the Neue Klasse represents BMW’s strategic shift towards electrification, balancing heritage with innovation.
BMW’s success in the EV market blends traditional craftsmanship with modern electric mobility, marking a pivotal sustainability milestone.