The German luxury vehicles company BMW is aiming to double its full-electric vehicles (EV) sales this year, as the company and its rivals race to release new models to comply with CO2 emissions targets and chase market leader Tesla.
BMW has revealed its plans to boost electric vehicle sales by 50 percent compared to 2020, including plug-in hybrids. The data recently released by BMW disclosed that the company sold nearly 193,000 electric vehicles last year.
The American electric vehicle and clean energy company Tesla delivered only 500,000 electric vehicles to clients in 2020. Last year, the company shared its plans to deliver the budget electric vehicles for customers by 2032.
The BMW Group currently manufactures 13 electrified vehicles which are either fully electric or plug-in hybrid, to sell in 74 countries.
BMW recently stated that its global EV revenues increased by 31.8 percent in 2020 and accounted for 15 percent of its European sales, helping the company meet its emissions targets for the European Union last year.
The luxury automaker informed that by 2023 its electrified vehicle lineup would almost double to 25 models, with more than half of them fully electric.
Several countries will ban the sale of new fossil-fuel vehicles starting in 2030, putting pressure on carmakers to produce electric vehicles, as per the company.
Founded in 1916, Bayerische Motoren Werke AG, commonly referred to as BMW, is a German multinational company that produces luxury vehicles and motorcycles. BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, South Africa, the United Kingdom, the United States, and Mexico. The company has significant motorsport history, especially in touring cars, Formula 1, sports cars, and the Isle of Man TT.