BMW said some of its sedans, SUVs and Mini cars will be electrified in Europe until 2030. This seems to be an ambitious target, as industry forecasts are 40% for the industry in total until then.
In terms of its sustainability commitments, BMW said 13.3% of BMWs and Minis are all-electric or plug-in hybrids. This compares with an average of around 8% for all brands in Europe.
BMW mentioned its super-luxury subsidiary Rolls-Royce in its statement.
BMW said electrification will account for a quarter of its sales next year, a third until 2025 and 50 percent by 2030.
“BMW Group’s sustainable progression aims to bring more than seven million cars with electrified propulsion systems into international flow by 2030, two-thirds of which are all-electric variants,” the company said.
Electrification, according to BMW, includes battery-only plug-in hybrids (PHEV), but excludes normal hybrids and comfortable hybrids. PHEV cars have larger batteries than classic hybrids like the classic Toyota Prius, and have abundant diversity of up to 35 miles with just the strength of the battery. They can also be charged independently, unlike the classic hybrid, which gains electric power thanks to the force of the internal combustion engine (ICE). Traditional hybrids only have less than a mile of battery life. Lightweight hybrids use ICE engines, as well as a higher percentage of electrical power to force components.
In either market, BMW’s forecast puts it ahead of average.
BMW has been criticized by investors for its electrification policy. Instead of designing a variety of specially designed electric cars like Volkswagen, he expanded electrification by adapting existing designs.
But investment researcher Jefferies thinks this makes sense.
“Investors continue to question BMW’s preference for platforms that can accommodate ICE, PHEV and BEV powertrains. As long as the platform is designed from the beginning to incorporate space for the battery/engine, we see no explanation as to why the ultimate vehicle deserves to be compromised, meeting on shared ICE/EV lines would possibly be suboptimal in terms of productivity given the fewest EV meeting steps. Philippe Houchois, Jefferies analyst.
Houchois expects BMW to continue this gradualism by presenting the Electric Mini this year and the iX3, followed by iNEXT and i4 in 2021.
Like many primary automakers, BMW has been recovering from the effects of coronavirus and its economic upheaval, and lost a record amount this quarter, but still expects to make a profit throughout the year, albeit minimal.
BMW joined Volkswagen, mercedes Daimler’s parent company, Renault in France and Volvo in Sweden to record losses due to the pandemic. The PSA Group has remained in the dark.
BMW lost 498 million euros before tax ($600 million) in the current quarter and recorded an operating loss of 666 million euros ($800 million). BMW’s EBIT (earnings-up earnings-and-tax earnings) for cars fell to minus 10.4% from more than 6.5% in the same quarter last year, but remained consistent with a forecast made in May that the margin would be between 0 and 3% by the year. as a whole. BMW remained in the dark in the first half.
As a former European Reuters correspondent, I spent a few years writing about the industry. I’ll penetrate the hype and arrogance and find
As a former European automotive correspondent for Reuters, I spent a few years writing about the industry. I’m going to get to the hype and bragging from the corporations and find out what those gigantic corporations are doing. I also like to drive your adorable machines and your maximum modesty. I’ll tell you if the generation works too.