BMW’s country president in India, Vikram Pawah, told Reuters that the company is thinking about introducing more BEVs in India due to rising demand from buyers of high-end vehicles.
“By 2023, we will have 25 globally electrified products. Half of them will be fully electrified.” Pawah stated that each of the 12 electrified products will be evaluated for Indian markets.
BMW already has begun selling three EVs in India. If supplier problems are resolved, which Pawah predicts will occur in 2023, EV sales in that year could increase by even more than 10%. The global semiconductor shortage and supply chain disruptions brought on by pandemic lockdowns and the Ukraine conflict have both had an impact on the production of automobiles. However, things seem to be getting better. India is primarily a low-cost auto market. Only 1% of the 3.8 million units sold in 2022 were luxury models. Demand is growing even though the luxury EV market is still new and small.
BMW and rival Mercedes are looking to capitalize on the demand, at a moment when Tesla has made a decision to stay away due to high import taxes for EVs.
In India, Mercedes launched three EVs, including a local-assembled electric model of the flagship S-Class sedan. It expects EVs will account for 25% of its total sales over the next 5-years. BMW is striving to have at least half its global sales be zero-emission vehicles in 2030. Pawah says that India will soon adopt clean cars. BMW India’s total sales rose by 35% to almost 12,000 cars in 2022. This is its highest-ever year. It still trails Mercedes, which saw a record year with 41% sales growth and close to 16,000 vehicles.
