BMW welcomes Tesla's entry into Indian electric vehicle market
What's the story
BMW Group India, under the leadership of CEO Vikram Pawah, has expressed optimism about the country's electric vehicle (EV) market.
The company sees Tesla's entry as a possible growth driver for the segment.
"I think the market should grow. Anytime there's more competition, we've seen that the market grows," Pawah said when asked about Tesla's impact on India's EV landscape.
Strategy
EV sales target for 2025
In the first quarter of 2025, BMW sold 646 EVs in India across its two brands, BMW and MINI. The company aims to achieve 15% of its total sales from EVs this year. Pawah, in an interview with PTI, expressed confidence in exceeding this target.
Global performance
BMW's global EV sales growth
Globally, BMW saw a 13.5% growth in battery electric vehicle (BEV) sales in 2024.
Both BMW and MINI brands saw double-digit BEV growth with sales of 368,523 units (11.6%) and 56,181 units (24.3%), respectively.
Pawah stressed that despite competition from Tesla worldwide, BMW continues to thrive in the EV market: "In all the markets in the world, we coexist... last year figures worldwide, we were the ones who were growing."