BMW’s approach to manufacturing electric vehicles alongside gasoline cars has defied expectations, with the company selling 376,000 electric vehicles in one year and making a profit on them. Despite facing competition from Tesla and emerging Chinese automakers, BMW’s strategy of creating electric and hybrid vehicles on the same assembly line has proven successful. The company’s sales of electrified vehicles have surged, making up 15 percent of its total sales in 2023, up from 9 percent the previous year.
While BMW is set to introduce a new line of battery-powered cars, its existing strategy has allowed it to retain traditional customers who may not be ready to fully transition to electric vehicles. The company’s focus on developing expertise in battery technology and designing electric-specific models has positioned it well in the market. By innovating in both technology and design, BMW is showing other automakers a potential path to success in the electric vehicle industry.
As BMW continues to invest in electric vehicle technology, it faces competition from companies like Tesla, which have advantages in areas such as battery range and software. However, BMW’s strong brand, engineering expertise, and profitable margins have given it a fighting chance in the transition to electric vehicles. With a commitment to offering luxury electric vehicles with cutting-edge features, BMW is poised to lead the industry into the era of electrification.
