Hyperdrive
BMW Says Combustion-Engine Cars Have Peaked as EVs Drive Growth
- Company targets selling 500,000 electric vehicles in 2024
- CFO sees strong orders amid signs of EV demand cooling
BMW group EV sales jumped 75% last year.
Source: BMWThis article is for subscribers only.
BMW AG says demand for its luxury cars powered by gasoline reached its highest point last year and expects all-electric models to lead future growth.
The German premium-car maker has well-filled order books for battery cars with a target of half a million vehicle sales this year, roughly a fifth of total deliveries, Chief Financial Officer Walter Mertl said. BMW group EV sales jumped 75% last year, driven by models like the i4 sedan and as overall sales growth has slowed in the US and some European countries.