One out of every four vehicles sold by German luxury car maker BMW in the Indian market will be electric within the next two years, citing higher-than-expected demand. According to BMW Group India President & CEO Vikram Pawah, electric vehicles currently account for 10% of total company sales and are expected to increase to 15% in 2024 and 25% by 2025.
"With five distinct offerings, we have the most diverse portfolio of electric vehicles in the country." We have seen strong demand for electric vehicles and will continue to launch new products in this space to cement our leadership position," Pawah told ET.
With a market share of more than 48%, the German automaker currently leads the luxury EV market in India, ahead of competitors Volvo Cars India, Mercedes Benz India, and Audi India. The company sells five electric vehicles - the i4, i7, iX, iX1, and Mini Electric - and recently passed the 1000 EV sales mark in the country.
Pawah declined to provide specifics on the new electric vehicles that the company plans to launch in the country in the mid-term. BMW plans to launch 12 all-electric vehicles globally by 2025.
According to Pawah, customer sentiment in the luxury vehicle segment remains strong. "In September, we had our best-ever monthly sales of 1,439 cars." We expect the momentum to continue, and we expect to report record sales for the entire year," he said.