⁵"By the end of this decade, BMW EVs will have higher returns...

⁵"By the end of this decade, BMW EVs will have higher returns than its combustion cars.According to media reports, while BMW will continue to offer both ICE and EV powertrain options, it has given up on growing ICE sales. As per the carmaker, demand for ICE-powered vehicles has peaked and future growth will be via electric vehicles.Walter Mertl, Chief Financial Officer, BMW, stated, "The tipping point for combustion engines was last year. Future volume growth will primarily come from battery electric vehicles." He further added, "The current sales plateau for combustion cars will continue and then fall slightly", citing tougher emission regulations and the upcoming ban on ICE car sales in various countries as a roadblock to its growth.The carmaker stated sales of electric models in BMW, MINI and Rolls Royce's range jumper by 74.4% last year, taking EVs share in BMW Group's overall sales to 15 per cent. The carmaker wants to increase this share to 33% by 2026 and 50% by 2030. BMW will also be introducing its Neue Klasse EVs in 2026 & the first model to be underpinned by this platform will be an electric SUV - a replacement to the current iX3.Mertl also mentioned that by the end of this decade, BMW EVs will have higher returns than its combustion cars.Source: Bloomberg" https://www.team-bhp.com/news/bmw-says-ice-demand-has-peaked-growth-now-evs#:~:text=By%20the%20end,Source%3A%20Bloomberg