According to a senior business executive, it is just a matter of time until German luxury manufacturer BMW begins domestically producing its electric cars in India as the firm’s products continue to acquire popularity in the market.
BMW anticipates reaching up to 25% by 2025, up from the 9% of sales that EVs accounted for in India during the first half of 2023.
Vikram Pawah, president of BMW Group India, told PTI in an interview that “as the volumes grow, we will localise them (EVS) and we will produce them (locally)”.
“One is the volume here, and the other is the technology,” he said of the localization of EVs in India.
Just a matter of time, I say. The volumes and stability must have some inertia. Positive signals are now emerging. Still early in the process…In the first six months, we only delivered 500 vehicles over four models, which is still a tiny number in that regard, but it is certainly expanding quickly, according to Pawah.
He was replying to a question on BMW’s intentions for domestic EV manufacturing in India.
Models like the i7, iX, i4 and MINI SE are included in BMW’s line of electric automobiles.
“In the first half of 2023, we sold over 500 automobiles, which is 46% higher than we did for the whole year last year…We have over 50% market share, making us the clear market leaders in the luxury electric car class, he said, noting that the company’s iX is the most popular battery electric vehicle in India.
He said that technology’s other component also has to be stabilized.
“Because we began in 2013, BMW is already using generation five batteries. This technology is nothing new to us. We have advanced to the point where generation five of this technology has actually begun, and generation six is now under development. We will thus decide when is the best moment to localize each one and which one should do so when.It will occur shortly, according to Pawah.
He said, “At the moment, it’s only 8–9% of our sales, but we’ll grow it further… ” when questioned about the prospect for EVs’ contribution to the company’s overall sales in India.In my opinion, 15% is a very real possibility for the next year, and by 2025, we may be looking at between 20% and 25%.
In the first half of 2023, BMW sold a total of 5,867 premium vehicles in India under the brands of BMW and MINI.
Pawah said that “Once you have so much variety, of course, the percentage will increase” when BMW’s EV worldwide portfolio expands into India in the future.