Warning, Tesla: BMW takes the lead with its electric vehicle projects

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Accelerate its breakthrough in the electric vehicle (EV) market, BMW (OTC: BAMX.F) announced Monday that it will have 25 electric models – half of which are fully electric – on the market by 2023. In particular, the announcement indicates that the German automaker will manufacture a fully electric version of its 5 Series, although he did not indicate when consumers can expect to see them in showrooms. Looking further into the future, BMW said that “in ten years the goal is to have a total of over seven million electrified BMW Group vehicles on the roads – around two-thirds of them. with a fully electric kinematic chain. ”

The company’s decision to expand its line of electric vehicles reflects its growing interest in sustainability. Over the next decade, for example, BMW is aiming for an overall reduction in carbon dioxide per vehicle of at least a third. “This new strategic direction will be anchored in all divisions – from administration and purchasing to development and production to sales,” said CEO Oliver Zipse. “We are taking sustainability to the next level. “

Image source: BMW.

Tesla (NASDAQ: TSLA) has already faced the prospect of higher competitive pressures from private companies like Lucid Motors and Fisker, as well as the recent IPO Nikola (NASDAQ: NKLA), which is getting closer to the start of production of its Tre and Two models. But news of BMW’s plans should serve as a reminder to investors that it’s not just start-ups that pose a potential threat to Tesla – industry stalwarts also intend to take market share in vehicles. electric.



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