BMW Group Sold More than 59,000 Electric Vehicles

European automobile manufacturers are trying to compete with Tesla, which is not an easy task. But they can’t afford to lose a battle with Tesla, as it is hard to imagine the modern world without electric vehicles. It is not surprising that BMW Group is working hard to sell as many electric vehicles as possible.

The Munich-headquartered firm sold 59,688 fully electric vehicles in the first nine months of 2021. Its rival Tesla delivered 241,300 vehicles in the third quarter of 2021.

On Wednesday, the German carmaker highlighted the importance of electric vehicles. The BMW Group stated that electric mobility was “becoming an increasingly vital growth driver and success factor” for the company.

All in all, the company sold 231,575 all-electric as well as plug-in hybrid vehicles between January and September, a jump of 98.9%. For the third quarter of the year, net profit amounted to 2.58 billion euros ($2.99 billion), a rise of 42.4%. The company’s net profit jumped in the third quarter in spite of one serious issue. BMW Group delivered fewer cars in the third quarter compared to the same period of time last year.

BMW Group and its rivals

The Munich-headquartered firm wants fully electric vehicles to represent at least 50% of its deliveries by the year 2030. BMW is not the only carmaker from Europe that wants to sell more electric vehicles. 

Several months ago, Volvo Cars said it planned to become a fully electric car company by the year 2030. Volvo Cars launched its first all-electric car in 2020. The company wants half of the global sales to be fully electric by 2025, with hybrids accounting for the other half.

The Volkswagen Group also understands the importance of electric vehicles. In July, the German carmaker said half of its sales were expected to be battery-electric vehicles by 2030. It allocated 73 billion euros for the development of future technologies between 2021 and 2025. By the year 2040, the company said almost 100 of its new cars in major markets should be zero-emission. The company is also developing three software platforms. The Wolfsburg-based company wants to develop one software platform that can be used across all Volkswagen Group cars by 2025.

This shift to electric mobility comes at a time when countries around the world are trying to reduce the environmental footprint of transportation. For instance, Great Britain wants to stop the sale of new diesel and gasoline cars and vans by 2030.