BMW says it will beat its 50 percent EV target

Oliver Zipse, Chairman of the Board of Management of BMW AG, at the conference. Photo: BMW

BMW said it expects over 50 percent of its vehicle sales to be all-electric models, ahead of its 2030 target.

By 2025, a fourth of sales will be all-electric, the automaker said, rising to a third by 2026, an increase from the 1-in-11 ratio seen in 2022.

After doubling sales of battery-only powered BMW and Mini brand cars last year, BMW said sales of full-electric vehicles will likely account for 15 percent of total deliveries this year, up from 9 percent.

BMW expects full-electric models to account for at least 20 percent of total sales by 2024 and 50 percent "well ahead of 2030”, said the German brand at its annual conference today.

“It goes without saying that the percentage in Europe will already be well over 50 percent by then. If individual markets or regions demand 100 percent e-mobility at a certain point in time – we will be ready and able to deliver,” said BMW Group CEO Oliver Zipse.

“In 2023, we will take the next big step to fulfill the drivers’ technological needs of our customers around the globe. Later this year, we will be releasing the latest version of the world’s most successful business sedan on the market: the new BMW 5 Series – including of course the fully-electric i5.”

BMW said global deliveries will likely increase slightly after dropping 4.8 percent last year due to supply-chain disruptions, although it expects global markets to cool. It indicated that prices for new and used cars would settle after increases in 2022.

In New Zealand, there was 454 registration of electric vehicles in 2022 for BMW, while Mini had a record 482 electric cars sold.