In the first half of 2023, BMW’s total luxury car sales, comprising BMW and MINI brands, in India stood at 5,867 units. The German luxury carmaker is poised to locally produce its electric vehicles in India, with EV sales accounting for 9 percent of its total sales during the same period. BMW aims to increase this to 25 percent by 2025.
Local Production of EVs in India
BMW Group India President Vikram Pawah stated that local assembly of electric vehicles in India is inevitable, given the growing demand and popularity of the company’s vehicles in the market. As volumes increase, BMW plans to localize and produce EVs in India.
Two Aspects of Localisation
- Volume: The localisation process depends on achieving a significant sales volume to ensure sustainability and stability.
- Technology: BMW has been at the forefront of EV technology since 2013 and is currently working on generation six batteries. Stabilizing the technology is crucial before proceeding with local production.
Positive Growth Signs
Although BMW delivered only 500 electric cars across four models in the first half of 2023, the company is witnessing promising growth in the EV segment in India. Sales have increased by 46 percent compared to the entire previous year.
EV Models and Market Share
BMW’s electric vehicle lineup in India includes models like the i7, iX, i4, and MINI SE. The company currently holds over 50 percent of the market share in the premium electric vehicles segment, with the iX being the best-selling battery electric vehicle in the Indian market.
Outlook for EV Sales
Vikram Pawah predicts a positive outlook for EVs contributing to BMW’s total sales in India. Currently accounting for 8-9 percent of sales, he expects this to increase to approximately 15 percent in the near future. By 2025, BMW anticipates EVs to represent around 20 to 25 percent of its total sales in India.
Global EV Lineup
With BMW’s EV global lineup entering the Indian market, Pawah anticipates further growth in the percentage of EV sales. The diverse range of electric vehicles will likely drive up the market share of EVs in India.
