BMW has doubled the worldwide availability of its battery-powered electric vehicles in the first two months of 2023 compared to the same period the previous year. The producer explained this as the reason for the extraordinarily high demand in China.
In China, which is the largest single market in the world as a single market, the BMW Group has tripled the release of its electric cars on a yearly basis. Speaking to the news agency, the spokesperson of the group stated that the Chinese market is extremely important for BMW, and this importance has increased even more for electric vehicles. As a matter of fact, the Group reported that in 2023, the share of electric vehicle sales to China will increase more significantly.
One in three BMW-branded vehicles was sold in China last year. Thus, China's share in the total has more than doubled that of the USA, BMW's second largest market. After the Chinese venture BMW Brilliance Automobile (BBA) was fully consolidated in 2022, the company's earnings were up by 23,5 percent compared to the previous year, at 46,4 billion euros before tax.
In this way, BMW acquired Brilliance China Automotive Holdings Ltd. aims to strengthen its long-term cooperation with the company, expand its production capacity in Shenyang, and expand local production to a similar extent. In this context, 2023 will see BMW launch the fully electric version of the BMWiX1 to the Chinese market.
BMW is based on the assumption that the share of the fully electric car version in all car sales in the global plane is 2022 percent in 9 and this share will increase to 2023 percent in 15. Pointing out that the demand in this area is increasing rapidly, BMW AG Chairman Oliver Zipse claimed that if this dynamic continues, half of all sales will be made by fully electric vehicles before 2030.