BMW says the days of Tesla's dominance of the electric car market are over A senior company executive issues a warning to Elon Musk's company.

By Entrepreneur Staff

entrepreneur daily

This article was translated from our Spanish edition.

picture alliance | Getty Images

BMW says the days of Tesla's dominance in the electric market are over

A senior company executive issues a warning to Elon Musk's company.

This is not the first time that BMW has attacked Tesla . It has happened on several occasions and even Oliver Zipse , CEO of the German automaker, has publicly stated that he does not consider Elon Musk's company a premium brand. Now it is the turn of Pieter Nota , BMW sales manager, who has made a statement that has attracted attention. In an interview with the specialized media Auto News , the senior executive stated: "We will focus on a strong and rapid increase in electric vehicles… Tesla had a unique selling point for quite some time. That ended".

What sounds like a declaration of war is justified in an aggressive strategy to conquer the electric vehicle market, spearheaded by the BMW i4 . The German automaker estimates to sell 200,000 units of its various electric models this year, and although the figure is still far from the 900,000 units that Tesla sold in 2021, Nota's statements show where the company's emphasis is placed.

The German automaker today offers three different electric models: the BMW i4, a front competitor to the Tesla Model 3; the BMW iX3 that stands up to the Tesla Model Y; and the BMW iX that goes against the Tesla Model X. The launch of the BMW i5 , in the same segment as the Tesla Model S, is planned for 2023.

In the interview, Nota added: "The i4 is the electric car that customers have come to expect from BMW. It is the ultimate electric driving machine. Dealerships have hundreds of orders." Oliver Zipse complemented these statements: "In Europe you have a growing electric vehicle market for all brands. In the United States there is only one super successful brand. We will take the company to the limit of its production capacity."

BMW expects that by the end of this decade half of its sales will be from 100% electric vehicles . According to the company's official website: "By 2025, the share of electric cars in total Group deliveries is expected to rise to at least 30%. By 2030, at least half of the BMW Group's vehicle deliveries worldwide will be fully electric models. In addition, we intend to put some 10 million fully electric vehicles on the road over the next 10 years."

How big is Tesla?

The statements are not enough to unseat Tesla, the current leader in the electric vehicle market. According to a report by Statista , it was named the most valuable automotive brand of 2021 and was the fastest growing in the world. In June 2021, Model 3 became the first electric vehicle to exceed sales of more than one million units.

In 2021, the brand invoiced more than $53 billion dollars, which is equivalent to a growth of more than 70%. With the recent opening of a new plant in Berlin , the company estimates to increase its annual production by 500,000 units per year.

Words are not enough. Whoever wants to hit Tesla will have to do things right and work very hard.

Entrepreneur Staff

Entrepreneur Staff

Editor

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Science & Technology

These Are the Top 6 AI Threats to Your Business Right Now

The modern workforce is forever changed by artificial intelligence. If you fail to understand that we will all need to learn AI to some degree, you haven't been paying attention.

Business Ideas

55 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.

Business News

Here Are 3 Strategies Startup Founders Can Use to Approach High-Impact Disputes

The $7 billion "buy now, pay later" startup Klarna recently faced a public board spat. Here are three strategies to approach conflict within a business.

Business News

'This Can't Be True': Google Responds to Viral Hoax Claiming the Company Is Shutting Down Gmail

The fake news release started making its way around X on Thursday.

Business News

Vice Will No Longer Publish Content on Its Website, Lays Off Hundreds of Staffers

Vice Media CEO Bruce Dixon announced the news in an internal memo to employees on Thursday.

Business News

I Tested the 'Invest As You Shop' App to See If It Really Makes Investing Less Intimidating

Grifin is an app that tailors a user's investments to their spending habits. Now, the app is getting even more personal.