The German auto maker and a leading car brand in the world, Bayerische Motoren Werke AG or BMW (ETR:BMW), has said they are planning to sell 100,000 electric cars in 2017. This was disclosed on Monday by Harald Krueger, the Chief Executive Officer.
It was further revealed that by the end of this year, the business will be able to deliver 60,000 units of their hybrid and electric vehicles. BMW first started selling these cars in 2013. In the last three years, they have sold a total of 100,000 battery-powered automobiles. So next year, the target is to double that number.
BMW Is Also Increasing the Battery Range of i3
If the business can achieve the 100,000 figure, it would be a two-third improvement over their current sales. But BMW seems confident because they are coming out with new battery-powered models that hopefully the consumers are going to lap up. Also, the battery range of their i3 city vehicle is going to be increased by 50 percent. That is going to happen this year itself. Last year, 25,000 units of the i3 were sold. It is the only fully battery-powered car of BMW.
However, here’s a word of caution from the CEO Krueger, “Electric mobility will come, but demand is not going through the roof at the moment”. But hopefully we can sell more electric cars with better models and marketing push, he added.
Also, Harald Krueger wants their share of hybrid and electric models to be between 15 percent and 25 percent of total sales within 2025.
BMW Slips Behind Competition
It is no wonder that BMW is focusing on electric cars, as this seems to be a future growth area now. But BMW is not alone. Many other auto makers are also coming out with their own battery-operated automobiles, so the competition is likely to be severe. The competition includes Mitsubishi, Toyota, Tesla, Apple, Google, Audi, and others. Piaggio & C. SpA (BIT:PIA) of Italy announced last week that they will release an electric version of their scooter soon. It has been named Vespa Elettrica.
Mitsubishi recently stated that they want to sell 45,000 electric cars within the next three to four years. Currently, the company is producing around 30,000 vehicles.
Incidentally, BMW (ETR:BMW) has slipped considerably in recent times and is now placed behind Daimler’s Mercedes-Benz in the sales of luxury cars.