By Joseph White MUNICH (Reuters) - BMW is once again turning to the
Update on Halifax Serval Cat | SaltWireMUNICH - BMW is once again turning to the"Neue Klasse" brand - this time as an electric vehicle - as the German automaker seeks to replicate past successes to catch up with trailblazer Tesla.
BMW debuted at the Munich autoshow on Saturday a prototype for a"Neue Klasse" electric vehicle roughly the size of the current 3-series, the company's best-selling model line. That is despite BMW being relatively early to embrace EVs with the launch of the i3 compact in 2013 - a car that never shifted large volumes and was eventually discontinued in 2022.
“It will be a very competitive offer," Chief Executive Oliver Zipse told reporters ahead of the show."We will not price ourselves out of this market.” The Neue Klasse is targeting a 50% reduction in battery pack costs and 25% more range per kilowatt-hour, a measure of efficiency, executives said.
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