BMW Plans to Convert 20% of its Cars Lineup to Electric by 2023

On Wednesday, famous automotive company BMW announced to shift its 20% car lineup to electric by the year 2023. The company made this decision after observing its European counterparts Audi, Porsche, Mercedes-Benz, Volvo, Polestar, and a few others make strides in the Electric Vehicle (EV) arena.

The reports stated that BMW is planning to have 20% of its entire vehicle lineup shifted to an all-electric powertrain.

Oliver Zipse BMW’s Chief Executive speaking to a German media outlet said that we are considering increasing the number of electric vehicles. Between 2021 and 2023, we will build a quarter of a million more electric cars than originally planned.

BMW apparently aims to have every 5^th car in its global product lineup converted into an EV within the next 3 years. It claims to have realized the imminent rise in the demand for EVs as governments around the world are providing eye-catching enticements to EV buyers.

In order to ease its expansion into EVs, BMW has also revealed its plan to enlarge its charging substructure across all the major markets around the world.

According to Zipse, 15,000 private and about 1,300 public charging points would have to be put into operation every week as of today. Regrettably, we are a long way from that, Zipse remarked.

At present, BMW has only 1 car with an all-electric powertrain, the i3, in its lineup. Apart from it, the automaker recently revealed an electric SUV prototype called the ‘iX’. Though it has not revealed the details of the powertrain or the battery, BMW claims that the vehicle has the capacity to go up to 300 miles on a single charge.

None of the above-mentioned cars are cheap. The i3 has a starting price of over $44,000 and it has been foretold by experts that the anticipated iX will have a retail price of around $70,000.

Given the prices of their EVs, BMW is likely to only enter a limited number of international markets.

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