Local assembly of EVs in India just a matter of time: BMW
BMW plans to locally produce electric vehicles in India as their EV sales grow, currently at 9%. The company expects EVs to constitute 20-25% of total sales by 2025.
BMW plans to locally produce electric vehicles in India as their EV sales grow, currently at 9%. The company expects EVs to constitute 20-25% of total sales by 2025.
The Group claims to have posted its best-ever half-year, quarter and month in June 2023 for all the three brands-BMW, MINI and BMW Motorrad.
The X5 is equipped with BMWxDrive all-wheel drive technology, ensuring maximum traction, agility, and stability. BMW aims to solidify its position as the global market leader in this segment.
The completely Built-Up (CBU) model, available in limited units, can be booked at the BMW Online Shop, the company said.
Vikram Pawah, President & CEO, BMW Group India, told ET that globally the company is set to launch 12 full EVs by 2025. "We want to bring all of them to India," he said. The German carmaker currently sells four electric vehicles locally - i4, i7, iX and Mini Electric.
Industry insiders say that there are several factors that have led to this. For one, the euro slide vis-à-vis the dollar and the rupee slide vis-à-vis the euro has been a double pinch for European luxury car companies.
The BMW Group posted its best-ever sales of nearly 12,000 vehicles in the country in 2022, when globally it saw a dip of around 4.5% in sales. It starts the 2023 inning with a top-down strategy of launching the new 7 series, including an electric version.
BMW India registered sales of 11,268 units at a growth of 37 per cent and MINI India of 713 units, up 11 per cent from 2021, it added. Sports Activity Vehicle range, including the X1, X3, X5 and X7 grew at over 60 per cent, while luxury sedans such as the 3 Series, 5 Series and 6 Series continued their strong run, the company said.
Currently, semiconductor availability and logistics cost is a challenge in the industry. Going forward, several factors including the Indian economy, infrastructure growth and income levels will determine the growth of the luxury car segment in India. Despite these factors, which are beyond our control, we are expecting to see very robust growth for BMW over the next 3 years, said the automaker.
India is the first country to welcome the third and latest member of the BMW 310 model series, BMW G 310 RR. It inherits the original road racing genes that have fascinated sports bike enthusiasts with unlimited adrenaline rush on tarmac. With the combination of a stunning superbike design and modern technology, it is an ultimate riding machine - a best companion on racetracks and city roads alike, the company said.
The Indian luxury car segment has seen strong traction in the first eight months of this calendar year with the SUV segment taking the cake. In a recent interview, Vikram Pawah, President and CEO of BMW Group India, told ETAuto’s Editor Nabeel A Khan that the Indian luxury car market has the potential for 1.5 lakh units if the government offers a fiscal or taxation level playing field.