BMW won't forget about lower cost cars in EV market, will make affordable models

Established auto manufacturers and small startups are jumping into EV production, but vehicles are expensive - BMW said it won't abandon lower-cost market.

BMW won't forget about lower cost cars in EV market, will make affordable models
1 minute & 8 seconds read time

Despite its transition towards a fully-electric vehicle portfolio, BMW isn't expected to just leave lower-priced auto buyers high and dry. Of course, BMW isn't really known for the most affordable vehicle lines, whether gas-powered or electric.

BMW won't forget about lower cost cars in EV market, will make affordable models 08

Here is what BMW CEO Oliver Zipse recently said while speaking at a Bosch event: "We are not leaving the lower market segment. Even if you consider yourself a premium manufacturer, it is wrong to leave the lower market segment - that will be the core of your business in the future."

Competitors found their own EV platforms to develop and nurture, while BMW was rather discombobulated making a move. However, its Neue Klasse (New Class) EV architecture shows BMW doesn't want to share drivetrain data and other EV-based solutions with anyone else.

BMW noted that fully-electric EV sales are expected to double year-over-year in 2022, though inflation and rising interest rates could impact sales in 2023. Meanwhile, the German automaker continues to dump billions into EV battery and production facilities - both in the United States and Europe.

Until there is price parity between traditional vehicles and EVs - which will take years to hopefully occur - it's up to automakers to do their best. BMW's rival Mercedes-Benz plans to cater to its current customer demographic in the EV market - and price points will match that. Established automakers might end up competing with a new wave of upstart EV companies, while prices hopefully begin to decline.

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* Prices last scanned on 3/29/2023 at 3:44 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

An experienced tech journalist and marketing specialist, Michael joins TweakTown to cover everything from cars & electric vehicles to solar and green energy topics. A former Staff Writer at DailyTech, Michael is now the Cars & Electric Vehicles News Reporter and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog,, while he looks to remain busy in the tech world.

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