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.
Imperial Motors Zambia, part of Motus Africa, has added UD Trucks to its dealership offering following an official launch in Lusaka on 1 October. The brand will be represented at three operational locations in Lusaka, Kitwe and Solwezi.
Isuzu Motors South Africa has introduced its all-new seventh-generation N-Series truck range, representing the most comprehensive update to the company's light and medium-duty commercial vehicle line-up in years.
Euro NCAP has changed the way it tests cars. The 2026 protocols, the biggest revision in three years, restructure the assessment around four stages: safe driving, crash avoidance, crash protection and post-crash care.
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I have bad reflexes. I was once run over by a car being pushed by two guys
Woody Allen
Charging time remains a worry for many South Africans considering an electric vehicle, who still see it as a disruption rather than a quick stop at a filling station. That view is starting to shift.
South Africa has taken important steps to position itself within the global electric vehicle (EV) industry, but industry stakeholders argue that further policy adjustments are needed if the country is to accelerate adoption and support long-term investment in clean transport infrastructure.
As fuel prices and operating expenses continue to challenge South African businesses, alternative energy solutions are receiving greater attention.
