BMW is poised to grow its EV market share notably in China. The premium automaker plans to raise the number of battery EV models to 11 next year, getting closer to a goal of delivering two million BEVs in 2025.
According to news reports from China-based National Business Daily and Jiemian, BMW has launched five BEVs in China, including the BMW i7 and i3. It plans to introduce BMW iX1, Rolls-Royce SPECTRE and several other models in the country next year.
Gao Le, president and CEO of BMW Group Greater China, said the Group has great confidence in the market's long-term development. It will keep putting effort into electrification, digitalization, and carbon reduction in the country.
BMW saw a growth of 65% in China's BEV sales from the first to the third quarter of 2022. Data from China Passenger Car Association shows the automaker grabbed first and second place in best-selling premium sedans over CNY300,000 (US$43,000) from January to November this year.
According to BMW, it has partnered with more than 460 suppliers since entering the Chinese market in 1944. In 2021, the carmaker sold 2.5 million vehicles globally, with 846,200 cars sold in China. The country has become BMW's single largest market, accounting for 33.5% of sales worldwide.
To support its EV ambition, BMW announced last month that it will expand a production base in Shenyang, China, to scale up battery production. National Business Daily reported that BMW Brilliance, a joint venture between BMW and China-based Brilliance Auto, will invest CNY10 billion in the project.
Shenyang has become the automaker's largest production base in the world. BMW now produces the five-generation batteries for its iX3 and i3 models from there.
According to the company's plan, it will deliver two million BEVs in 2025 and launch next-generation models. BMW expects BEVs will account for 50% of sales in 2030, bringing accumulated sales to over 10 million vehicles. Other group-owned brands like Rolls-Royce, MINI and BMW Motorrad will also accelerate electrification.
