BMW: EV’s wait until 2020
- March 22, 2018
- Posted by: Alan Feldberg
- Category: Industry News
According to Reuters, BMW will not be mass producing electric cars until 2020. This is because today’s technology does not turn enough profit to justify the amount production will cost.
In 2013, BMW released their first electric car and has been perfecting the electric motor technology, battery and software since. The company are continuing their work to make electric cars more viable for commercial production.
‘We wanted to wait for the fifth generation to be much more cost competitive,’ Chief Executive Harald Krueger said to Reuters. ‘We do not want to scale up with the fourth generation.’
BMW currently has 10 plants around the globe that make electric cars with a focus on hybrids, which combine combustion engines with battery powered electric motors, rather than purely electric cars.
BMW has stated that they want 25 new electric models by 2025, with just under half of those being fully electric.