German automaker BMW unveils a new electric car

  • BMW’s latest design concept showcases a platform that will power the brand’s next generation of electric vehicles.
  • The first electric cars based on the Neue Klasse architecture – or the new class – are scheduled to enter production in 2025.
  • “With the BMW Vision Neue Klasse, we are putting every innovative strength that BMW has on the electric side, on the digital side, and of course, this car will also be prepared for the circular industry,” BMW CEO Oliver Zipes told CNBC.

German automaker BMW on Saturday launched a long-awaited electric car, saying the so-called “Vision Neue Klasse” marks the dawn of a new era for the company.

BMW’s latest design showcases a platform that will power the brand’s next generation of electric vehicles. The first electric cars based on the Neue Klasse architecture – or the new class – are scheduled to enter production in 2025.

The new range of electric vehicles includes the sixth generation of BMW battery cells, which the company says will improve both the charging speed and range of the Neue Klasse platform by up to 30%. As a result of these measures, BMW said the overall vehicle efficiency would rise by up to 25 percent.

“With the BMW Vision Neue Klasse, we are putting all the innovative strength that BMW has on the electric side, on the digital side, and of course, this car will also be prepared for the circular industry,” BMW CEO Oliver Zepsey told CNBC Arabia. Gumid.

“In just two years, these cars will hit the road, and with that, overall, we’re leading BMW into a new era of innovation and sustainability. That’s the purpose of our show at the IAA,” said Zipsey.

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The Vision Neue Klasse is set to be unveiled for the first time in the coming days at the IAA Motor Show in Munich, which also serves as BMW’s headquarters. The IAA is one of the world’s largest trade fairs for mobility.

“We believe electric mobility will be the world’s largest growth sector for the auto industry and we want to be a leading force here,” said Zipsey.

An employee checks the car’s logo during its final inspection on a production line at the German carmaker BMW’s factory in Leipzig, eastern Germany, on October 20, 2022.

Ronnie Hartman | ap | Getty Images

And the CEO of BMW predicted that battery electric cars will account for 15% of the global automaker’s sales by the end of 2023, and that “we will increase that next year and the year after.”

Frank Weber, the member of the BMW Board of Management responsible for development, said the Neue Klasse range represents a “big technological leap” for the carmaker.

In early August, BMW said it expects ongoing challenges caused by supply chain issues and stubbornly high inflation to continue over the coming months. However, it raised annual forecasts for EBIT margin in the auto sector.

BMW shares are up about 13% year-to-date.

Asked about the presence of Chinese electric car giants at the Munich Motor Show and whether he was concerned about the impact of Chinese exports to Europe on BMW’s business, Zipse replied: “No, we are not afraid at all.”

“This is a sign of attractiveness when global players like the Chinese, who are the largest car market in the world, come here in Munich and show what they want. It is much more than just a car show, it is a technology fair, and this is a showcase of innovation,” said Zipse.

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“And I think having everyone here, the Americans, the Europeans and now the Chinese as well, is very exciting. You’ve heard it in my words already, I’m more excited, I’m not afraid at all, and he is.” “It’s good that we have a show that attracts a lot of competition. That’s great.”

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