BMW is doubling down on electrification after second-quarter results showed sales of fully electric vehicles more than doubled.
Battery-electric vehicle sales totaled more than 88,000 units for the quarter, up 118% year-over-year, BMW Group reported.
“Strong sales development in general and especially for our fully-electric vehicles, shows that we have the right products on the market at the right time. The BMW Group will continue its successful ramp-up of electromobility at a high pace in the second half of the year,” said Pieter Nota, member of the Board of Management of BMW AG responsible for customer, brands and sales.
It said it will increase investment in EV production at a faster rate than it had planned.
All deliveries groupwide rose 11.3% year-over-year, though net profit fell 2.9%, on target with analyst forecasts.
The group plans to launch two more fully electric models in the second half of the year: the i5 M60 and the i7 M70 sedans.