BMW steps up electric car target to 700,000 by 2025
BMW plans to increase sales of electric and plug-in hybrids by 30% every year until 2025 to help meet incoming stringent emission regulations in the EU, prompting the carmaker to accelerate the rollout of battery models.
The German manufacturer moved up a goal for a lineup of 25 electric and plug-in hybrid models by two years to 2023, it said, following plans by other carmakers like Volkswagen to keep up with tightening regulation. This puts BMW on a trajectory to sell roughly 700,000 electrified vehicles by 2025. The quicker ramp up on electric cars will put the world’s second-biggest luxury carmaker on a trajectory to meet EU regulation by 2021 on CO2 and avoid fines, chief financial officer Nicolas Peter said.
