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BMW EVs To Be Manufactured In India: Growing In The Electric Market
BMW, the German Luxury car company, recently announced that production of its electric vehicles will begin in India soon as the EV market in India is expanding. BMW said that 9% of their sales in India came solely from the electric vehicle market in the first half of 2023 and expects these sales to reach 25% by 2025.
The President of BMW Group India, Vikram Pawah, in an interview said that BMW intends on localizing their EVs by starting production in India as the market for electric vehicles grows and the demand increases. He also stated that the process of localisation has to include the aspect of sales volume in the Indian market and the technology available.
"There has to be some inertia of the volumes and stability. We're seeing good signs now. It's still early days...We have delivered only 500 cars across four models in the first six months, that is still small from that perspective, but it is clearly growing fast," Pawah said.
BMW India recorded their best ever Half-Yearly Sales (H1) in 2023 selling over 500 EVs. Some of the electric vehicles from their lineup include the i7, iX, i4, and the MINI SE. BMW has been manufacturing electric vehicles for a decade, since 2013, and is working on releasing their 6th gen batteries.
Speaking about the new generation battery at BMW, Pawah said, "We, as BMW, are already on a generation five batteries because we started way back in 2013. We are not new to this technology. We have already progressed so far that we are already into generation five of this technology, and we are already working on generation six. So we'll make a decision about what is the right time, which one to localise at which time...It will be soon,"
As of now, BMW's EV sales only comprise 8-9% of their total sales but have seen a growth from last year and they expect it to expand even more as the months go by. By 2023, Vikram Pawah said that he can see the sales increasing to 15% and by 2025 he can see it get to 20-25%.
"We sold over 500 cars in the first half (of 2023), which is 46 per cent more than what we sold in the entire year last year...We are the absolute leaders in the premium electric vehicles segment because we have over 50 per cent market share," Pawah said.
Thoughts On BMW EV Production In India
As BMW is one of the most reputable and respected brands in the global market, they have a name to live up to and standards to meet. With the German company beginning to manufacture their electric vehicles in India, it grows our name in the EV industry worldwide and allows us to be recognised as a strong force.
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