BMW AG set to launch a whole range of electric cars to rival Tesla Motors (NASDAQ:TSLA)

BMW AG in the resent past have failed to make solid impression in the market with its expensive line of electric cars. However it is reportedly set to take a more aggressive jab at Tesla Motors (NASDAQ:TSLA) by launching a whole lineup of electric luxury cars.

Germany car-making giant BMW Chief Executive Officer Harald Krüger, said in his statement that company “will systematically electrify all brands and model series.”

Recently BMW’s electric i3 small car and i8 sports car have been praised as engineering wonders, but the auto maker’s move to electrify more popular mainstream models, including crossover sport-utility vehicles. That could help BMW better meet lessening emissions standards.



Auto industry has been quite keen on electrification as regulators in Europe, the U.S. and China demand enhanced emissions over the next decade. Mr. Krüger, spending the past year strengthening the firm’s tech pursuits, including the declaration last month that an all-electric Mini brand vehicle will arrive in 2019 followed in 2020 by an electric version of BMW X3 sport-utility vehicle.

Mr. Krüger also said in an interview that “It’s only possible to achieve this one in the next phase by building on the previous steps.”

“The company should sell a total of about 60,000 electric vehicles this year, including plug-in hybrids,” he added.

In year 2016 U.S sales of BMW have been relatively slow, and the executive was visiting America, considered the world’s most profitable auto market, as part of a centenary celebration for the company.

Meanwhile giants like Volkswagen AG and Daimler AG have also speeded up plans for EVs despite shy demand for them. In the meantime Tesla, which is considered a leader among luxury electric-vehicle makers, is set to bring a cheaper Model 3 in the market by next year, a move that will be met by fresh battery-powered offerings from Audi, Mercedes, Porsche and other high-end brands.

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