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

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.

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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.