Join our Waitlist for Expert Advice!

BMW Aims To Launch Multiple Models In India In November 2021, the company announced its plans to launch three electric vehicles in India and globally the company set to introduce 25 electric vehicles by 2023

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

BMW Twitter handle

BMW, German luxury car maker, aims to introduce multiple models to lead the charge in the electric vehicle segment in India. In November 2021, the company announced its plans to launch three electric vehicles in India and globally the company set to introduce 25 electric vehicles by 2023. Nearly half of them could be launched in India, if provided the current incentives continue and adequate charging infrastructure is set up across the country.

Vikram Pawah, president, BMW, as quoted in a news statement saying, "The customer acceptance of electric vehicles has been better than expected and the company expects 10 per cent of its demand to come from such models by the end of the next calendar year. Electro mobility is a new space that is developing. BMW Group wants to take the lead in the luxury space."

The company has already launched its technology flagship all-electric SUV iX and all-electric MINI SE luxury hatchback, and claims that it has sold out all the allocated batches of both the vehicles. On Thursday, the company launched a third-offering midsize electric Sedan i4 at an introductory price of INR 69.90 lakh.

"When we launched the iX and MINI SE, what we are seeing is an approximate demand of about 5 per cent which is really healthy. With the i4 launch, I expect by next year, the electric demand would be over 10 per cent of our volumes," said Pawah in a statement during the launch event.

The company also plans to invest in setting up charging infrastructure. It has already put in place 50 DC fast chargers across 34 cities in the country, claimed by the company in a statement.

According to reports, BMW was fifth plug-in electric vehicle producer in the first half of 2021, with a market share of just under 6 per cent.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Can Anyone Beat Microsoft at AI? The CEO of Salesforce Thinks His Company Can.

Salesforce CEO Marc Benioff calls Copilot "the new Microsoft Clippy."

News and Trends

Data Science Wizards, Healspan, and Cosmic PV Power Raise Early-Stage Funding

The startups listed below have disclosed investment rounds.

Starting a Business

She Started a Business With $300 After Getting Laid Off. It Made $300,000 in Year 1 and Became a Multimillion-Dollar Company.

Bobbie Racette wanted to revamp the virtual assistance space — and provide job opportunities for underrepresented communities at the same time.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Leadership

Remote Workers Aren't Lazy — They Need Empathy. Here's How to Build Emotional Resilience in a Remote Environment

Given the increasing prevalence of remote work, especially in light of the pandemic, this article delves into the various aspects of working from home, with a particular focus on emotional resilience. It draws from Dr. Emmy E. Werner's pioneering research on resilience and aims to provide guidance to organizational leaders seeking to effectively engage with remote employees by prioritizing empathy and support.

Thought Leaders

44 Side Hustle Ideas to Make Extra Money in 2023

Do you need some extra cash? Here are 44 side hustles for making money on the side. From freelancing to selling products, find out how to earn extra income today.