According to Reuters, BMW reported on 15 March that the company expected over 50% of new sales to be all-electric vehicles.
This is well ahead of its 2030 target. The company also hinted that a hydrogen-powered car could be going into production in the second half of the decade.
The carmaker forecast slightly higher deliveries and an 8%-10% margin for the year, up from its 7%-9% target in 2022, but cautioned that it still expected high costs from supply chain troubles and had not factored in a deep recession in its key markets into its outlook.
BMW finance chief Nicolas Peter, who is due to retire later this year, said he expected energy and chip supply to stabilise but still predicted significant cost burdens from logistics bottlenecks and high raw material prices.
The company said it planned to keep prices stable, after years of dealing with rising costs by passing them on to customers.
The forecast chimes with a broadly cautious tone across the auto industry hoping for a stronger 2023 but still keenly aware of supply chain problems, high inflation in Europe and uncertainty over China's post-pandemic economic recovery.
Still, car makers across the board were optimistic about the growth of their battery-electric vehicle segment, with BMW predicting a fourth of new sales would be all-electric by 2025, rising to a third by 2026 - an ambitious leap from the 1-in-11 ratio seen last year.
One of the most prominent advocates among carmakers of hydrogen fuel-cell technology as a worthwhile option alongside battery-powered cars, Chief Executive Oliver Zipse said he could also envisage a hydrogen-powered vehicle going into production by mid-decade.
Key to making that happen is an expansion of the hydrogen-fuelling network, which was mainly in the hands of the heavy vehicle transport industry, development chief Frank Weber added at a press conference dedicated to the company's annual results.
"We see hydrogen-electric vehicles as a meaningful complement to e-mobility, even with something of a time lag," Zipse said.
The BMW iX5 Hydrogen test vehicle, with a range of 500 km and an ability to refuel in three to four minutes, was being tested in various countries, BMW said in a statement.
We reported on the auction of a one-of-a-kind Audi RS6 Avant GT in November last year with part of proceeds going the Kutlwanong Centre for Maths, Science and Technology. Audi South Africa celebrated the official handover of a R500 000 donation to the Centre following the successful auction of the exclusive vehicle.
Last year, Volvo Car South Africa revealed impressive sales figures for its electric vehicle (EV) line-up. But how did it all start?
In a true spirit of celebration and support, Toyota fans and members of Toyota, Lexus and the Hino dealer network will gather at the OR Tambo International Airport tomorrow (Wednesday, 22 January) to welcome back the 2025 Toyota Gazoo Racing SA Dakar Rally Team.
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You can't build a reputation on what you are going to do.
Henry Ford
Last year, Volvo Car South Africa revealed impressive sales figures for its electric vehicle (EV) line-up. But how did it all start?
When the first motorised vehicle, the Benz Patent-Motorwagen arrived in 1885, people in general did not take it too seriously. It was not considered as an alternative to the trusted horse, horse cart or family-size horse carriage.
Zero Carbon Charge (CHARGE) welcomes the signing of the 150% tax incentive for electric and hydrogen-powered vehicle manufacturers into law by President Cyril Ramaphosa. This follows a year of advocacy by CHARGE for government incentives to fast-track South Africa’s electric vehicle (EV) transition.
