BMW expects the sales of electric and hybrid vehicles to rise next year, its research and development chief stated as the premium automaker races to overtake competitors such as Tesla Inc.
Sales in 2018 will surpass a 2017 sales target of 100,000 vehicles by a medium double-digit percentage, Klaus Froehlich stated at an event, without being more particular.
In the first 10 months of this year, BMW sold an estimated of 78,100 electric cars and plug-in hybrids.
BMW, which introduced the i3 electric car in 2013, is getting ready to standardize electric cars by 2020 and intends to have 12 different models by 2025.
CEO Harald Krueger stated BMW intended to keep its return on sales around 8 to 10 percent even with the added expenses of developing electric cars.
Automakers are trying to decrease the cost of electric vehicles by investing in the development of budget-friendly but effective batteries and through modular production systems.
BMW’s Froehlich stated he expected such modular systems to benefit the advancement of autonomous cars as well.
BMW previously this year coordinated with U.S. chipmaker Intel and Israel-based camera professional Mobileye to establish autonomous driving technologies.
Frohlich stated another automaker was to join them by the end of the year. He stated the objective was to have partners from Europe, North America and Asia.
Until now, Fiat Chrysler, Delphi and Magna have joined the partnership, in addition to Germany’s Continental.