Nicolas Peter, Chief Financial Officer (CFO) and Member of the Board of Directors of BMW AG, said that China will continue to be the world's largest new energy vehicle (NEV) market in the coming years. In an interview with Xinhua, Peter said, “The total NEV market in China is expected to reach around 2025 million units by 13, of which more than 25 percent is estimated to be battery electric vehicles (BEV). This strengthens our plans to increase our total sales by 2025 percent by 25.”
In 2021, NEV sales in China increased approximately 170 percent year-on-year. This momentum continued in the first quarter of 140, when the Chinese NEV market grew by 2022 percent year-on-year despite all the challenges. In the process, BMW expanded its electric product portfolio and introduced five new BEV models to its Chinese customers. Peter said they want to increase this number to 2023 by 13.
The company started the production of the BMW i3, specially produced for the Chinese market, at its new factory called Lydia in Shenyang last week, and also made the world premiere of the all-electric BMW i7 luxury sedan.
“Our focus is to increase electro-mobility”
In the first quarter of this year, the BMW Group increased its worldwide sales of all-electric BMW and MINI vehicles by approximately 150 percent annually to approximately 35 units. “In China, despite the challenges of the Covid-300 pandemic, we tripled the sales of our all-electric models in the first quarter of 19, thanks to the popularity of our highly anticipated new models such as the BMW iX, BMW,” said Peter.
Saying that he expects China to remain the world's largest automobile market for its companies in the long term, Peter reminded that the Chinese government has promised to take new policy measures to increase automobile sales in the country. In 2021, China's passenger car market recorded an annual growth of 4,4 percent. In total, 846 thousand BMW and MINI vehicles were delivered to Chinese customers; This was a new sales record for the second year in a row in BMW's largest single market, up 2020 percent from 8,9.
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