Tuesday 25 June 2019 11:35 am

BMW to hit electric vehicles target two years early

BMW is set to meet its target to create 25 electric vehicle models by 2025 two years ahead of schedule.

The German car maker announced this morning it will reach the quota by 2023, with more than half of those models being fully-electric compared to hybrid or combustion engine.

“We are moving up a gear in the transformation towards sustainable mobility, thereby making our company fit for the future: Over the past two years, we have consistently taken numerous decisions that we are now bringing to the roads,” said Harald Kruger, chairman of the BMW board.

“By 2021, we will have doubled our sales of electrified vehicles compared with 2019.”

Read more: Volkswagen to ramp up electric car production with Tesla-style gigafactories

Kruger said BMW expects sales of its electrified vehicles to increase by an average of 30 per cent every year.

The firm has also set itself the target of only buying electricity from renewable energy sources for all of its locations worldwide from next year.

“We fulfil our social responsibility – in all its different facets,” said Kruger.

“We are firmly committed to emission-free driving. At the same time, we stand by our corporate responsibility towards our employees, shareholders and investors.”

Read more: Climate protests ramp up as City waves goodbye to Hammond

Kruger’s comments follow efforts by the Bank of England this month to step up its efforts on going green. The bank and government, alongside many businesses in the UK, have set a target of achieving net zero carbon emissions by 2050.

UK Finance chief executive Stephen Jones said yesterday: “Achieving net zero carbon by 2050 is a difficult but critical target that we must all work together to address and as an industry we stand ready to respond.”