Automaker BMW wants half of all cars the company sells to be electric by 2030. Around that time daughter MINI only sells electric vehicles, is the plan of the German company. In addition to the BMW and MINI brands, luxury Rolls-Royce also belongs to the BMW Group.
BMW announced the plans at an annual meeting for analysts and investors. Some of the plans had already been leaked, such as the fact that MINI becomes fully electric. BMW also wants only to make cars based on reusable parts and materials.
The number of electric cars sold by the group should grow significantly in the coming years. By 2025, there should be ten times as many as last year. BMW expects to have delivered 2 million electric vehicles. By 2030, there will have to be an annual increase of more than 20 percent in the number of electric cars sold.
Currently, BMW has two electric models under its own brand name and one electric MINI. This year two new BMW electric models will be added, with the i4 model becoming available several months faster than the Munich-based car manufacturer had previously announced.
BMW is counting on a higher profit margin for this year. Because of the coronavirus crisis last year, the profit margin for every car sold was only 2.7 percent, and that was before the tax went off. This year, the company expects that profit margin to rise to between 6 and 8 percent. Gross profit will therefore rise “significantly”.