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BMW: EV Margins Will Match Those of Piston Cars by 2025
BMW AG tells the Financial Times that its profit margins on the sale of electric vehicles should equal those of the company’s current piston-powered models by 2025.
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BMW AG tells the Financial Times that its profit margins on the sale of electric vehicles should equal those of the company’s current piston-powered models by 2025.
Chief Financial Officer Nicolas Peter says parity could come sooner, depending upon public acceptance of EVs. Earlier this week BMW announced it will introduce 25 hybrid or all-electric vehicles by 2023, two years sooner than originally planned.
The company predicts overall demand for EVs will grow 30% per year over the next five years. Several carmakers have estimated that EV prices will drop to equal those of comparable conventional vehicles by about 2025.
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