BMW i3 Boosts European Electric Vehicle Market

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Oct. 16 (Bloomberg) -- Bloomberg News’ Chad Thomas reports on the boost to the electric vehicle market in Europe from BMW’s i3 model, as the luxury automaker considers increasing production of the vehicle due to demand. He speaks on Bloomberg Television’s “The Pulse.”

Bmw seeing yesterday that they may increase production for the new i3 which is going on sale starting in november.

That is good news for the whole industry.

They sort of struggled to gain traction with electric cars.

We were talking to the nissan chief executive just last month.

He said they wouldn't reach a target they had set out for 2016 to sell 1.5 million electrics combined for renault and nissan.

Last year they only sold 60,000. it shows how far off they are.

The news from bmw is converging -- encouraging for auto.

Bmw being in the lecture he they are able to charge more for their cars and that is really something that comes with electric.

Electric sarin general more expensive.

It is bmw expenses -- customers who can afford to pay the higher prices.

Where are the sales coming from?

The sales for electric cars weston mark these are -- electric cars?

These are just orders.

We don't know exactly where they're coming from but it would be from all over the world.

Sales will start in europe first and then be expanded to china, japan and the u.s. at the beginning of next year.

We are seeing strong sales numbers coming out of europe today.

The first big jump in two years.

All that is coming from spain as a cash for clunkers story attached to it.

Is this partly a drive to get more environmentally friendly cars on the road or is it just to drive the industry?

I think it is simply just to drive the industry.

The spanish car sales have really plunged over the last six years during the crisis in europe and in spain.

The spanish government came up with these incentives as a way to boost the industry.

There is significant auto production in spain and so it is really important for the spanish government not only to boost the sales but simply to protect those jobs that you have in the industry there.

So the incentives are for all vehicles, not just specifically for electric cars.

We will leave it there.

Thank you very much indeed.

This text has been automatically generated. It may not be 100% accurate.

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