BMW CEO: iX3 Electric SUV Will Be Industry 'Benchmark'

Bloomberg

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00:00We're 109 years old and it's by far the biggest single investment into one architecture we've

00:06ever done.

00:08And it kind of developed.

00:09We started with an electric car and we said, well, it's also about digital, it's about

00:13connectivity, it's about a global approach.

00:16And then it kind of developed and the whole company said, this is a great idea.

00:23And because everyone kind of wanted to contribute to that product, it kind of became a self-fulfilling

00:29prophecy to start that and everyone said, this is the right time and the right investment

00:35and the right approach.

00:37And then the investment is almost an outcome of that approach.

00:41But our investments already peaked last year, with more than 10 billion euros into that platform.

00:52We're coming down now and we are absolutely sure with the first responses we get from the

00:59capabilities of the car, that this will be a very profitable future for BMW.

01:05The iX3 deliveries in the first quarter of 2026, in terms of volumes, what would be a success

01:11for you by the end of next year?

01:15That the market share, which we gain together with the brother of this car, there's also

01:23the current iX3, which is a combustion engine car and a plug-in car.

01:28And this brother or sister car, that we will have increased market share when they're together

01:35on a global scale.

01:37That's our target and that's more than a wish.

01:40What are the vulnerabilities of Tesla and your Chinese competitors right now?

01:46I mean, when you drive the car, if you measure the car, if you see what this car can do, this

01:53will be the benchmark of the industry.

01:57This will be the benchmark of the industry.

01:59On Tesla specifically, we've seen their sales plummet in Europe, in Germany, double-digit

02:05drops.

02:06In France, double-digit drops.

02:09You can take market share, you will be taking market share from Tesla.

02:12How much market share do you expect to be taking from them?

02:16You know, when you bring, you always have, when you bring the newest technology into the

02:21market, you have the first mover advantage because you cannot bring every year a new car.

02:29So when you launch a car, you have the first mover advantage.

02:33So when this car is being launched in terms of charging speed, in terms of range, in terms

02:40of energy usage of the car, it will only use 15 kilowatt hours per hundred kilometers.

02:47I mean, this is the absolute benchmark in that industry.

02:51And we will use that first mover advantage at that point in time to say, well, there is

02:58a car brand, namely BMW, who can build superior electric cars.

03:05And the rest, the market has to answer.

03:08We think we have a very strong brand.

03:09We have very high quality recognition in the market.

03:16And from the first car we built, this will be BMW quality.

03:21And that is not only a first mover advantage.

03:23This is an advantage to every who is new in this industry.

03:27To be clear, you think the pendulum swings back from Tesla to BMW.

03:32We did a survey in 2019, 5,000 drivers.

03:34A lot of them are swapping up BMWs for Tesla Model 3s.

03:38The pendulum now swings back to BMW.

03:41Well, this is already happening in 25.

03:45In Europe, we sell more electric cars than the competitor.

03:49This is already starting before this car is even launched.

03:53So when this car is being launched, that momentum will even be accelerated, because you already

03:59see it with the previous technology.

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