BMW Group To Spend More On Developing Electric Vehicles

The BMW Group has had a great 2017 as far as sales are concerned. Automotive sales volume increased by 4.1 per cent to a new record level of 2,463,526 units in 2017. In fact the company recorded 25 per cent growth in India itself, but the major growth has been in the electrified vehicle space. Deliveries of electrified vehicles jumped by 65.6 per cent to 103,080 units and considering the world is heading towards a future that sees EVs playing a big role in the automotive space. Considering the strong growth it has seen in this space, the BMW Group announced that it will spend more on research and development in 2018. The company spent €6 billion in 2017 but in 2018, it plans to spend €7 billion which is more than ever it's spent on developing EVs.

The company also said that in 2018, it targets to sell 1,40,000 EVs and has ambitious plans to take that tally to 5 lakh units in 2019. The surge in sales will be helped by the introduction of new products and these will include all-electric BMW iX3, the new i4, and MINI.

Harald Kruger, Chairman of the Board of Management of BMW AG said, "Our industry is currently experiencing a phase of unprecedented technological change. At the same time, however, it needs to cope with the challenge of present-day volatilities. At the BMW Group, we think in terms of opportunities and follow a clear strategy. Because the future of mobility is created today. We are stepping up the pace in 2018 and targeting our ninth successive record year,"

The BMW Group already manufactures electrified vehicles at ten production facilities. In 2019, Plant Oxford will join this list with the start of production of the fully-electric MINI. The BMW i4 is just one of the 25 electrified models that the BMW Group intends to bring to market by 2025. Half of these models will be fully electric. Powered by the fifth generation of battery and drivetrain technology, from 2021 the BMW Group will of offer all-electric vehicles with a range of up to 700 kilometres and plug-in hybrids with an electrical range of up to 100 kilometres.