Since India’s automobile market has become the third largest in the world, various foreign companies are lining up investments targeting it. Be it two-wheeler or four-wheeler, companies are showing equal enthusiasm in all sectors. This time, the German luxury car maker BMW (BMW) has announced plans to start production of electric vehicles in India soon. Nine per cent of its total sales in India come from the electric vehicle segment, a top company official told news agency PTI. Hence a target has been taken to increase it to 25% by 2025. It is also reported that the company’s demand for electric vehicles is increasing in this country.
BMW will manufacture electric cars locally in India
“One is volume, and the other is technology,” BMW Group India president Vikram Pawa said in a recent interview. He added, “At the rate our business is growing, local manufacturing of electric vehicles in the country is essential. We are getting good response from this country. Although a total of 500 models of the four vehicles have been delivered in the first six months, we are hopeful that the demand will increase gradually.”
BMW currently sells a total of four electric cars in India – i7, iX, i4 and MINI SE. The current iX is the company’s best selling EV model in the country. In this context Pawa said, “We are the leading company in the premium electric vehicle segment. Because in this case more than 50 percent market share is under us.”
Pawa added, “We are not new to electric vehicle technology. We have already progressed so much that we are now in the fifth generation of this technology. Now we are working on the sixth generation. So we decided, now is the right time to start producing electric cars locally in India.”