On Tuesday, February 3, 2020, Bayerische Motoren Werke AG or BMW, a leading German car manufacturer, released the details of an electric concept car that was set to start launching in 2021.
Since most of the world’s leading automobile companies including Tesla, Inc. (Tesla) have started its operations for mass production of the electric vehicles (EVs), BMW lately entered its business for producing eco-friendly cars to challenge the big rivals. Apart from corporations, international non-profit organizations have started participation in the EVs business to maintain a global sustainable environment.
BMW’s New Electric Cars
The company’s CEO, Oliver Zipse described in an interview with CNBC on Tuesday that the BMW Concept i4 vehicle would bring the “electromobility to the heart of the BMW brand.” Without mentioning the price of the new vehicle, Zipse said in the interview, “It’s fast, it has an acceleration of less than four seconds from zero to 100 kilometers an hour, and it has a range of 600 kilometers (about 373 miles).”
He also declared that the company had sold more than 140,000 electrified vehicles last year and emphasized that he was “quite positive about our profitability in the future, even with electromobility.” On the matter of the coronavirus impact, Zipse told CNBC that there would not be any major disturbance to BMW’s supply chain yet he added that the company was “monitoring the situation very closely.”
Focusing on its operations of the EVs, the BMW Group claimed in 2017 that the company expected “electrified vehicles to account for between 15-25% of sales.” The German carmaker announced a partnership with China’s Great Wall Motor last year to construct a plant in Zhangjiagang, Jiangsu province, China that will produce fully-electric models of its Mini brand.
In November 2019, the Volkswagen Group entered a partnership deal with BMW to start the production of its ID.3 electric car with planning to launch “almost 70 new electric models” on its platform by 2028.
The Climate Group’s Participation
According to the International Energy Agency (IEA), “Worldwide electric car sales hit 1.98 million in 2018, with the global stock reaching 5.12 million.” The intergovernmental organization reported that China, being the biggest electric car market in 2018, facilitated the sale for over one million electric vehicles which was followed by European and US markets. As the latest player in the EVs business, Tata Motor’s Jaguar Land Rover had launched its Project Vector concept electric vehicle last month.
Apart from the leading EVs manufacturing giants, international non-profit organizations have started their focus on the EVs business. The Climate Group, an international non-profit group that focuses on renewable energy, took initiatives such as EV100 which was a part of their participation in the corporate world on eco-friendly business.
The head of EV100, Sandra Roling explained in an email to CNBC, “We’re working to accelerate mass uptake of electric vehicles by businesses who buy cars, trucks, and vans by the thousand. The sooner this happens, the sooner EVs will become widely affordable for ordinary people.”
Roling added, “Our research shows that corporate demand for EVs is increasing, but is still not being met by manufacturers.” Focusing particularly on the US carmakers, he stated, “As the climate emergency escalates, US manufacturers need to shift to a higher gear on producing EVs – or they risk falling behind the global market and losing their largest customers.”
I’m Roshan, a journalist, blogger and music lover. I like covering global news related to finance, business, and technology. Focusing on the collection of true and reliable information, I rely on working by conducting interviews with business leaders and talking to the inside sources of companies.
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