BMW is now achieving most of its growth from EVs, says CFO

BMW has passed the tipping point for combustion engine vehicle sales and generating most of its growth from electric vehicles (EVs), says the car maker’s top official.

BMW CFO Walter Mertl said that the company passed the tipping point for combustion engines last year.

Countries continue to adopt strict policies to adopt electric vehicles and announce plans to achieve maximum EV purchases and switch from possible fuel engine vehicles.

BMW i5

BMW electrified vehicles accounted for 15% of the overall cars sold in 2023 and plans to increase this share by 36% by 2026. There are a total of six new electric BMW models in development people and this could provide a jump in its electric car offerings.

However, it also means that the company may not be able to level its combustion engine and EV car shares until 2026.

Earlier this month, BMW shared Q4 and entire 2023 year business results including sales of 362,244 vehicles in the U.S. with 45,417 battery electric vehicles, and 25,318 BEVs.

(source – yahoo)