EVs could account for 25% of BMW sales in a decade

October 13, 2016

BMW chief executive officer Harald Krueger has revealed electric vehicles (EVs) could account for a quarter of its sales in a decade. In a Bloomberg Television interview, he said that sales growth will coincide with expected infrastructure improvements. Currently, EVs account for about 2% of BMW Group’s global deliveries, but several carmakers are predicting substantial growth as governments encourage consumers to switch to alternative fuels. BMW plans to add to its i3 and i8 EVs with zero-emission versions of its X3 SUV and Mini hatchback. Rival German manufacturers have launched their own electric ranges. Volkswagen Group expects to generate sales of more than 1 million EVs by 2025 for its planned ID models, while Mercedes-Benz forecasts hundreds of thousands of customers for its new dedicated electric brand, EQ. Rival Tesla has already secured nearly 400,000 pre-orders for its Model 3, which is due to launch in 2018. When manufacturers offer a wider choice of models, it may kick-start growth in the European EV market, which slowed in the first half of 2016. Between H1 2015 and H1 2016 growth slowed to 17% as EV sales increased by just over 10,000 units to 70,127. In contrast, sales rose 78% between H1 2014 and H1 2015 to 59,815, a year-on-year increase of 30,000 units for the period. Despite the slowing pace of growth, Bloomberg New Energy Finance predicts EVs could account for two-thirds of cars on the road in cities by 2030.

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