BMW Holds Firm on 50% EV Goal by 2030, Excluding Hybrids, as it Navigates Future of Electrification

BMW maintains its goal of achieving 50% electric vehicle sales worldwide by 2030, a target set in 2021, yet refrains from setting a final date for phasing out traditional combustion engines. This target does not take into account hybrid or plug-in hybrid electric vehicles.

CEO Oliver Zipse announced on Wednesday during a shareholder meeting that by the year 2030, they anticipate that electric vehicles will make up roughly 50% of their delivery fleet. However, Zipse noted that the progression towards this goal will be influenced by evolving market dynamics.

Upcoming 2024 Model of the BMW i

"Our dedication to this objective is unwavering, and we are adjusting the increase to match the market's needs," stated Zipse. "Our adaptability will persist, stretching far into the 2030s."

Zipse underscored the importance of hybrids and plug-in hybrids in BMW's strategy, pointing out that the company anticipates the plug-in hybrid variant of its midsize 5-Series will make up roughly 20% of the model's sales in Europe. Additionally, the 5-Series comes with traditional gasoline engines and in an all-electric version known as the i5.

The objective to switch to electric extends to BMW's subsidiaries, Mini and Rolls-Royce. Last year saw the debut of Rolls-Royce's inaugural electric vehicle, the Spectre coupe, which made up 38% of the brand's deliveries in this year's initial quarter, according to Zipse. Additionally, BMW plans to offer 15 fully electric models worldwide under its various brand names, he stated.

2024 Spectre by Rolls-Royce

BMW is set to target the broader market with its upcoming electric vehicle (EV) lineup called the Neue Klasse. These vehicles will be produced in Mexico for the U.S. market. The initial model in this range, an SUV that was recently hinted at through a concept version, is slated to begin manufacturing in Hungary for the European market by next year. Subsequent production will expand to Germany and eventually commence in Mexico by 2027.

The Neue Klasse represents a significant change in direction for BMW. Following the lukewarm market response to the i3 hatchback, BMW overhauled its strategy for electric vehicles in 2019, choosing to initially focus on creating all-electric versions of its staple combustion engine models.

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Aptera has concluded its public fundraising efforts. Ford is initiating a recall for its Maverick Hybrid and Escape Hybrid vehicles due to a software glitch. Meanwhile, BMW remains firm on its electric vehicle goals, despite hesitation from other car manufacturers. Stay updated with Green Car Reports for more. BMW is committed to its previously stated ambition of achieving 50% sales in fully electric vehicles by 2030, which doesn't include hybrids or plug-in hybrids. However, BMW's chief executive Oliver Zipse has declined to specify a cutoff point for the production of traditional combustion engines, indicating that the company intends to maintain adaptability even beyond the 2030s. Additionally, a recall has been issued for certain hybrid models of Ford's Maverick and Escape.

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