BMW upbeat on its all-electric car prospects by 2030

March 16, 2022

Abstract : BMW is increasingly optimistic about its market opportunities for all-electric cars, with the the Munich-based carmaker forecasting it is possible that the share of pure battery cars will reach half of their total global sales before 2030.

BMW is increasingly optimistic about its market opportunities for all-electric cars, with the the Munich-based carmaker forecasting it is possible that the share of pure battery cars will reach half of their total global sales before 2030.

With BMW CEO Oliver Zipse targeting total sales of 3 million cars before the end of the decade, annual unit sales could then exceed 1.5 million, the group announced on Wednesday.

Previously, BMW had assumed that at least 50% of its cars sold in 2030 would be powered solely by an electric motor.

BMW again called for the expansion of the global charging infrastructure as a prerequisite for stronger growth in fully electric cars.

In the new model generation - which BMW calls "New Class" - a battery-electric drive will be used for the first time. This should significantly reduce costs, the company said.

BMW plans to announce details of the new battery technology before the end of the year. Rivals such as Tesla, Volkswagen and Mercedes-Benz had aroused strong interest among investors in recent years with similar developments in battery technology.

So far, BMW has not been considered a leader in the field of purely electric battery drive. the company still assumes that conventional modes, such as internal combustion engines, will continue to be necessary in some regions of the world after 2030.

This year, the group expects a profit margin before interest and taxes of 7% to 9% in its car business due to the impact on its own production.

Without the problems arising from the conflict, the company said it would have targeted between 8% and 10% of sales as operating profit.

Analysts had previously forecast an average of around 9% for BMW.

Demand is high worldwide, the company said - but BMW only expects car deliveries at the same level as the previous year due to the geopolitical situation in Eastern Europe.

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