BMW to invest more than US$32-M on electric mobility

MANILA: Expect electric and low-emission BMWs from 2022 and beyond as the automaker pledges more than US$32 million on advanced powertrains in order to continue reducing CO²emissions and reliance on fossil fuel.

BMW expects to eliminate 50% of traditional drivetrains variants by 2021 and plans to have more than one million vehicles with all-electric or plug-in hybrid drivetrains on the roads. Customers can expect five models fulfilling these requirements by 2022 and these are the i3, iX3, iNEXT, i4, and the Mini Cooper SE (owned by BMW since 2000).

“New technologies are key to the future of mobility. Up to 2025, we intend to invest more than 30 billion euros in research and development to underscore our position as an innovation leader. This also expresses our confidence for the future business development,” said chairman of the board of management of BMW AG, Oliver Zipse.

By 2023, the company aims to increase the number of electrified models to 25, and that includes the flagship 7 Series that will offer an impressive four drivetrains: diesel, gasoline, plug-in hybrid, and a full battery-electric vehicle.

This realizes part of the company’s program that aims to give customers the power of choice by offering them a comprehensive range of technologies best suited to realize sustainable mobility.

“We took decisive steps in the relevant strategic fields at the right time and are now intent on leveraging our competitive advantage to set ourselves apart from the industry trend,” added Zipse.

The increased budget for research and development was made to address the rising costs related to manufacturing electrified vehicles, acquisition/lease of property/plants, and procurement of equipment and other intangible assets.

Also read: BMW iX3 EV is set for production in 2020 and comes with 440 km range