Over the next 4 years, BMW expects that 25% of its sales in China will be made up of EVs. This is an ambitious increase of 21%, compared to last year.
BMW’s China Chief, Jochen Goller, revealed the German marque’s goal during the 2021 edition of Auto Shanghaitoday,Reuters reports. He also announced that BMW will launch 12 electric models in China by 2023.
BMW, said Goller, is examining the possibility of expanding its production in China, although nothing is certain yet.
Despite issues with Huachen Group, the parent of its main China joint venture partner, Brilliance Automotive Holdings, Goller stated that their operations will not be impacted.
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Huachen Group, parent of Brilliance, went intobankruptcy restructuringin November 2020, following a period of overreliance on BMW’s profits, and defaulting on a 1 billion yuan ($151 million)bond.
BMW’s aspirations come as part of its overall objective that by 2030, 50% of its global sales will be made up of EVs.
Do EVs excite your electrons? Do ebikes get your wheels spinning? Do self-driving cars get you all charged up?
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Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainabili(show all)Ioanna is a writer at TNW. She covers the full spectrum of the European tech ecosystem, with a particular interest in startups, sustainability, green tech, AI, and EU policy. With a background in the humanities, she has a soft spot for social impact-enabling technologies.
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