(Reuters) - BMW said on Friday that it aims to double its sales of fully-electric vehicles this year as the German carmaker and rivals race to release new models to comply with CO2 emissions targets and chase market leader Tesla Inc.
BMW also said that including plug-in hybrids, it aims for a 50% increase in sales of electrified vehicles versus 2020.
It did not give sales volumes for its fully electric vehicles but in 2020 data released on Tuesday BMW said it sold close to 193,000 electrified vehicles - fully electric and plug-in hybrid - last year.
Tesla delivered just under 500,000 vehicles, all fully electric, to customers in 2020.
The BMW Group currently produces 13 electrified models - either fully electric or plug-in hybrid - sold in 74 markets.
BMW said on Tuesday that its global EV sales rose 31.8% in 2020 and accounted for 15% of its sales in Europe, helping the company meet its European Union emissions targets for last year.
By 2023, BMW said it would almost double its line-up of electrified vehicles to 25 models, with more than half of them fully electric.
As well as emissions targets, a growing number of countries will ban the sale of new fossil-fuel vehicles starting in 2030, adding pressure on carmakers to develop electric vehicles.
(Reporting by Nick Carey; Editing by Susan Fenton)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU