There is no doubt that our future will be electric cars. Earlier in March during the Geneva Motor Show, most car companies introduced new models to the public, with high hopes that the consumers will like their innovations. BMW, on the other hand, did not reveal any new models, deciding instead to focus on updating and electrifying what is already in the lineup.
So at the next international auto show, don’t be surprised if you spot a wagon version of the 5 series, or perhaps a subtly adapted 4 series. Harold Krüger, CEO of BMW believes in making their top-selling cars, even better. This strategy is to make customers happier than they already are with their current products.
In an interview, Krüger mentioned that they are transforming the company into a tech company and a mobility service provider. And as the company transforms, BMW will continue to focus on helping customers and providing them with what they desire. He further added that they do have plans on electrifying, and that they will be offering some sweet deal for the customers by bringing electric mobility to a new and unprecedented level. Their plan should not be a problem for the company it has more than enough funds to cover the costs it will be needing for future technologies. However, he believes that it takes time to develop something like this. He goes as far as compare it to a long-enduring marathon.
Mercedes-Benz and Volkswagen however, are moving much quicker. The former will be launching at least ten electric vehicles not so long from now, and VW already revealed its I.D. concept to the public, and will be having a lineup of thirty EVs, the same time the Mercedes releases theirs. According to Morgan Stanley analyst Harald Hendrikse, this might be dangerous for BMW as they are pretty much behind its competitors and especially considering how successful the Mercedes’ EQ and Volkswagen I.D. have been. The good thing is that EVs make up only less than a percent of the worldwide automotive market share, and this might boost up to eight percent in 2025 - therefore, it is the right timing for BMW to begin now, and release its future electric models in 2021.
Krüger himself will be educating its 14,000 managers about their strategies, in a camp they built in Maisach, near Munich. At the three-month EV “boot camp”, they will address electric drivetrains, and really study the future software of connected cars.
Having said that, BMW is indeed focused on the updating of its current lineup instead of innovations and building new models. Though customers will have to wait a little longer for a new BMW, the company will ensure their future models will be the next big thing in the industry.