BMW announces that its Chinese plant will be carbon-neutral within the year and fully promote electric vehicle sales

On June 5, according to foreign media reports, German luxury car manufacturer BMW announced that the company plans to achieve carbon emissions neutralization in its Chinese factories by the end of this year, and plans to reduce the total carbon emissions of China’s production chain by 2030. 80%. During the Shanghai Auto Show, BMW China President Jochen Goller said that by 2023, BMW will launch 12 electric models in China.

 

At the same time, the company also plans to increase sales of pure electric vehicles to 25% of total sales in 2025. In addition, BMW is also considering expanding production in China, but has not yet made a final decision. There is anecdotal report that the joint venture between BMW and Great Wall Motors is building a plant in China. As the sales of pure electric vehicles in China continue to increase, it is “reasonable” that BMW will increase investment in the Chinese market.

 

The smart car faction learned that BMW has now started its layout in order to achieve this goal. On June 3, BMW announced that it would build 360,000 charging piles in China before the end of this year, including 150,000 fast charging piles, in order to occupy more shares in China, the world’s largest electric vehicle market. As of the end of 2020, BMW’s public charging network has covered more than 300 cities across the country, achieving dynamic connection of more than 300,000 national standard charging piles.

William Douglas has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.

William holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ William is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.

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