BMW accelerates rollout of electric cars to catch up with rivals
BMW has accelerated its plans for the roll-out of electric models in a bid to convince investors it is capable of catching up with rivals, according to a Financial Times report. The company said it will release 25 fully electric or hybrid models by 2023, two years earlier than previously announced. “We expect to see a steep growth curve towards 2025: Sales of our electrified vehicles should increase by an average of 30 percent every year,” said BMW CEO Harald Krüger.
While it was one of the first major carmakers to sell a specifically designed electric car, the i3, BMW is now seen as trailing the competition in the shift to electric mobility. In contrast, VW has moved from laggard to pioneer with a decarbonisation plan green NGOs called a “game changer” for the industry.