By David Sachs
BMW AG said Wednesday it will aim to make fully electric vehicles a larger share of its total sales this year as it transitions away from internal combustion engines.
The German car maker wants 15% of all sales in 2023 to be battery-electric vehicles, up from 9% last year and 4% in 2021. The company expects that at least a fifth of the cars it sells in 2024 will have a fully-electric train, raising to a fourth in 2025 and a third in 2026.
BMW sold a total of 2.3 million vehicles in 2022.
The new target is buoyed by strong sales of BEVs in January and February that were more than twice as high as the previous period, driven by demand in China, the company said, with two new fully electric car models rolling out later this year.
The target comes following a year in which BEV sales more than doubled to 215,752 units, from 103,854 in the previous period.
BMW, which owns the MINI and Rolls-Royce brands, has committed to a fully electric product lineup by the early 2030s.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
03-15-23 1034ET
