Recently, many car manufacturers have announced their 2023 business reports and made plans for future development. The BMW Group also showed off its 2023 financial results and revealed the highlights of future new cars.
Three highlights worth looking forward to
According to the financial report released by the BMW Group, the group's total revenue in 2023 will be 155.498 billion euros, and 2,554,183 luxury cars will be delivered worldwide, a year-on-year increase of 6.4%. Among them, 824,932 BMW and MINI vehicles were sold in the Chinese market, a year-on-year increase of 4.2%.
In 2023, more than 375,000 BEVs were delivered to customers worldwide, up 74.2% year-on-year, achieving the target of approximately 15% of the Group's total sales. In the Chinese market, the BMW Group will also deliver about 100,000 BMW BEVs in 2023.
In the future, BMW will continue to increase its efforts, and is expected to launch the new generation of BMW models in the global market in 2025, and will start production of at least six models in the following 24 months. In China, the next-generation model will be localized in Shenyang in 2026 and will have three major features:
1. Adopt a newly developed electronic and electrical architecture, as well as a new user interface and human-computer interaction concept;
2. Equipped with a newly developed electric drive and battery system with high performance and high efficiency;
3. Achieve a new height of product life cycle sustainability.
Although these six new cars are still some time away, the new generation X Concept car, which made its world premiere not long ago, may already give a glimpse of its advancement.
At the same time, BMW will continue to increase its investment in the Chinese market, including the further expansion of its production network related to the new generation of models, and the peak of R&D investment and capital expenditure in the automotive business. R&D investment is mainly focused on electrified vehicles, including next-generation models, and digital innovations in the vehicle, such as vehicle connectivity, software stacks, and autonomous driving. As for the large amount of capital expenditure, it is mainly related to plants, products and innovative technologies.
In order to ensure the smooth production of future next-generation models, the BMW Group's capital expenditure on plants, equipment and fixed assets has increased significantly in 2023, among which in terms of investment in China, the sixth-generation power battery project adhering to the BMW iFACTORY production strategy, with a total investment of 10 billion yuan, has been completed. The new production facility will lay the foundation for the implementation of the BMW Group's latest technologies in China, as well as the production of low-carbon, high-efficiency and high-quality power batteries, and accelerate the pace of localization of next-generation models.
Based on its confidence and commitment to the Chinese market, the BMW Group continues to invest in China, continuously expand its business layout in China, enhance the strategic position of the Chinese market in the company's future development, and pursue high-quality development with continuous product and technological innovation.