BMW: affected by customer demand, the company currently "invests more in global electric vehicles than originally planned"

CTOnews.com, August 4 (Xinhua)-- BMW said at a regular investor meeting yesterday that BMW electric vehicles accounted for 12.6% of the company's total deliveries in the first half of 2023, up from 10% for the whole of 2022, according to Bloomberg. BMW aims to sell 15% of its battery electric vehicles by the end of 2023.

▲ Touyuan Pexels, but BMW has yet to say when to stop selling fuel cars, and Oliver Zipse, the company's chief executive, declined to set a production stop date on the earnings call, saying there was "no sign that the world is giving up on fuel cars."

Oliver Zips also said that with the growing global demand for new energy vehicles, BMW is now "investing more in electric vehicles in the global market than originally planned."

It is reported that BMW's R & D spending increased by nearly 19% in the second quarter of 2023 compared with the second quarter of 2022, reaching about $2 billion in the second quarter of 2023 (CTOnews.com note: about 14.362 billion yuan).

Bloomberg believes that this attitude is in sharp contrast to Mercedes-Benz, Ford, General Motors and other auto companies, BMW is more embracing new energy, but none of these companies have specified when they will choose to stop production of fuel vehicles.