Electric Vehicles Demand Growing Among Indian Consumers

As the demand for electric vehicles grows in India, BMW looks to expand its footprint in this market

As luxury car buyers express increased interest in electric vehicles, BMW is contemplating adding more electric vehicles to its lineup in India, says Vikram Pawah, BMW’s president for the country.

BMW intends to introduce 25 electrified products globally by 2023, half of which will be fully electrical, according to Pawah in a recent interview with Reuters. These twelve electrified products are being considered by the company for the Indian market.

BMW currently sells three electric vehicles in India; however, as supply chain concerns clear up – a development that Pawah expects to occur in 2023 – EVs could represent more than 10% of BMW’s total sales. As supply chain concerns resolve – a development that Pawah anticipates will occur in 2023 – BMW’s sales of electric vehicles in India may exceed 10%.

Within five years, Mercedes expects EVs to make up 25% of its total sales, including a locally assembled electric S-Class sedan. Meanwhile, BMW anticipates that the adoption of clean vehicles in India will be rapid by 2030, aiming for at least half of its worldwide sales to be zero-emission vehicles.

A 35% increase in sales from the previous year and its highest ever sales in India occurred in 2022 when BMW sold almost 12,000 cars. The company is still lagging behind Mercedes, which sold nearly 16,000 cars in a record-breaking year, an increase of 41%.

Written by Aly Bukshi

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