One of the major challenges hindering the effective proliferation of electric vehicles in global markets is their high prices compared to gasoline and hybrid vehicles. Among the prominent challenges in electric vehicles is the exorbitant cost of batteries. For this reason, global automotive companies are currently racing to develop new and innovative batteries that are more cost-effective. The goal is to offer a range of appealing and economical electric vehicles to consumers, while providing an electric range that meets their needs.

BMW has embarked on the development of battery production processes at its factory in Munich, Germany. It has advanced to a stage where it has created a preliminary version of a new battery that competes with high capabilities and manufacturing costs nearly half of the previous batteries. This means that it can achieve real reductions in the prices of BMW electric vehicles in the near future.

Not only that, but the new batteries offer a better electric range of up to 30% compared to current batteries. This enhances the ability of electric vehicles to travel long distances on a single charge, making them more economically and practically appealing to consumers.

It is worth noting that BMW will not primarily produce these batteries but will focus on development and practical testing. The final designs will be provided to its suppliers for battery manufacturing, with the aim of using them in BMW electric vehicles.

BMW electric vehicles have seen significant success this year. The BMW Group, including the Mini brand, has sold approximately 100,000 electric vehicles during the third quarter of 2023. This represents a substantial improvement of 80% compared to sales during the same period in 2022.