"Electric Vehicles as Core Growth Drivers: BMW Announces Strategies Including i5 Launch"

15% of Total Sales Projected to Be Pure Electric Vehicles

BMW Group announced its performance last year and corporate strategy for this year at the annual press conference held at its headquarters in Munich, Germany, on the 15th.

BMW expects significant growth this year in the high-end premium segment centered on pure electric vehicle models, the 7 Series, X7, and the Rolls-Royce family. In particular, it emphasized that electric vehicle models will be the core growth drivers for BMW this year.

Last year, BMW sold about 215,000 pure electric models, more than double the previous year, and announced plans to further strengthen its role as a pioneer in the e-mobility sector. It expects electric vehicles to account for 15% of total sales this year and projects that by 2026, one out of every three vehicles sold will be electric.

This year, the fully redesigned 5 Series and the pure electric i5 will be launched. In the second half of this year, the pure electric Sports Activity Vehicle (SAV) iX2 will be released, and next year, the first pure electric touring version of the 5 Series will be introduced.

This is Oliver Zipse, Chairman of BMW Group, along with the concept model BMW i Vision Dee.
[Photo by BMW Korea]

The pure electric vehicle platform Neue Klasse is scheduled to be produced starting in 2025. More than six models, including SAV models and the 3 Series sedan, will be produced on this platform. It will also feature the advanced head-up display ‘BMW Panoramic Vision,’ which was showcased earlier this year at CES 2023.

Detailed plans for Neue Klasse will be announced at ‘IAA Mobility 2023’ held in Munich this fall. Oliver Zipse of BMW Group stated, “BMW Group’s future-oriented technology and Neue Klasse will be key success factors for the upcoming future.”

Plans for hydrogen vehicles were also revealed. The pilot model iX5 Hydrogen was first unveiled in February this year. It can travel 504 km on a single hydrogen charge based on WLTP standards, and hydrogen refueling takes 3 to 4 minutes. Mass production of hydrogen fuel cell vehicles is planned for the late 2020s.

The MINI brand plans to become a pure electric vehicle brand from the early 2030s. Production of the new MINI Countryman will begin this year at BMW Group’s Leipzig plant. This model will offer both pure electric drivetrains and internal combustion engines. The MINI Cooper SE Convertible, the world’s only pure electric open-top model, will also be sold in limited quantities.

BMW’s global sales last year were 2,399,632 units, a 4.8% decrease compared to the previous year. Among these, electrified models including pure electric vehicles and plug-in hybrids accounted for 18.1% of sales (a total of 433,792 units, a 32.1% increase year-on-year). Group revenue rose 28.2% year-on-year to 142.61 billion euros (approximately 198 trillion KRW).

BMW Group Management Board members and Oliver Zipse, Chairman of BMW Group (fifth from the left), are announcing this year's strategy.
[Photo by BMW Korea]