Deliveries of full-electric models will grow by more than 50 percent annually on average by 2025, more than 10 times the figure for 2020, BMW said. By the end of 2025, the company expects to have delivered about 2 million full-electric vehicles to customers, rising to 10 million by 2030 for at least half of global deliveries. BMW previously said it expects 20 percent of sales to be battery or plug-in hybrid vehicles by 2023.
The company will have at least one full-electric model on the road in 90 percent of its current market segments by 2023. “We are consciously adopting a broad approach with our all-electric offering rather than staying niche,” Zipse said.
‘New Class’ EV architecture
BMW will introduce new EV and software underpinnings in 2025 for a new set of vehicles called “New Class,” reminiscent of a range of models made in the 1960s.
The cars will be built to recycle as much material as possible for use in new vehicles, and boost revenues from customers booking digital features, BMW said.
“We are intent on ensuring that the ‘greenest’ electric car on the market is made by BMW,” Zipse said.
BMW said it expects its automotive business to record a solid year-on-year increase in deliveries, with the segment’s EBIT margin expected to rise to between 6 percent and 8 percent. The forecast compares with 2.7 percent last year.
BMW has come through the coronavirus pandemic better than expected and so far has avoided a global semiconductor shortage. Its shares have still trailed gains achieved by rivals with ambitious EV targets.
VW sees 1 million EV and plug-in hybrid sales this year, and its namesake brand this month doubled a goal for EV sales in Europe to a 70 percent share by the end of the decade.
Volvo said this month its lineup would be fully electric by 2030, and Ford said in February its passenger-car lineup in Europe would also be all-electric.
Bloomberg and Reuters contributed to this report.
