BMW Group India leads luxury EV market, plans to have a portfolio of a dozen EVs by 2025
The company has seen the penetration of EVs crossing 10 percent this is likely to jump to 30 percent by 2025 with the widest product portfolio planned at every price point.
BMW Group India plans to have a portfolio of over a dozen electric vehicles including a two- wheeler by 2025, as it aims to hold on to its leadership position in the nascent yet fast-growing Indian electric vehicle space at the top end of the market.
This is tripling its portfolio from the four models it currently sells. The company, which has sold close to 500 units in the first six months of this calendar year, expects to breach the four-digit mark comfortably, said the senior company executives.
The electric vehicles are already 12% of the overall sales of the company in the first six months of this calendar year, this is set to move up to 30% by 2025, says Vikram Pawah, President of BMW Group India to Autocar.
"We will have BEV or battery electric vehicles at every price point of the Indian luxury car market. From an overall volume standpoint, the penetration may be lower, but if you look at individual segments like the X5 and iX – the share is almost 50:50, the same is the case with i7 and its iCE equivalent. So, the momentum is very strong and we are confident of leading the electric vehicle space," added Pawah.
Globally, BMW Group overtook Mercedes Benz as the largest luxury car maker in 2022, and it is marching towards a cleaner and greener portfolio for the future.
Pawah says the Group has plans to launch over 25 electrified vehicles – i.e. about a dozen vehicles each of battery electric vehicles and plug-in hybrids. In India, the focus is on BEVs (battery electric vehicles), and once the full portfolio in the country matures, the penetration levels will also shoot up.
The company claims it continues to lead the electric luxury segment in India - thanks to its diverse product portfolio - i7,iX, BMWi4 and Mini SE.
"BMW Group India delivered eleven times more electric vehicles during January to June 2023 than in the same period in 2022. The BMW iX is the best-selling battery electric vehicle in the Indian luxury car segment. The best charging infrastructure in the premium segment at BMW Group Dealer Network in 35 cities played a vital role," added the company statement.
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