BMW AG unveiled the first of a new range of electric vehicles meant to help the German carmaker push back against Chinese rivals and take back the lead in automotive engineering.
The iX3, a sport utility vehicle BMW debuted in Munich on Friday, comes with slick software, ultra-fast charging and a refreshed design. It kicks off the Neue Klasse, a line of EVs the manufacturer spent well over €10 billion ($11.7 billion) on to dethrone Tesla Inc. and BYD Co.
“This is the best overall product in the industry,” BMW Chief Executive Officer Oliver Zipse said in an interview with Bloomberg Television. It’s “a global product with benchmark features.”
The SUV is a key test for BMW at a time of upheaval in the industry. US President Donald Trump’s tariffs are adding costs and forcing companies to adapt their supply chains, while China’s fast-moving manufacturers are pushing into a stagnant European auto market, challenging BMW, Volkswagen AG and Stellantis NV on their home turf.
The iX3 will manage as much as 805 kilometers (500 miles) of range under Europe’s test procedure, and its charging system can add 372 kilometers after just 10 minutes of plugging in. Tesla’s longest-range Model Y can drive as far as 622 kilometers on a full battery.
The iX3 will cost less than €70,000, Zipse said, though BMW is under pressure to lower that sticker in China, where a brutal EV price war is denting automaker profits.
BMW and Mini’s combined sales in China slumped 15% during the first half of the year as BYD, Xiaomi Corp. and Xpeng Inc. dominate the world’s biggest EV market with desirable features at affordable prices. The Neue Klasse is meant to change that, and BMW is cooperating with Chinese partners — including with DeepSeek, Huawei and Alibaba — to tailor its cars to local tastes.
“We are and will be competitive also in China,” Zipse said, adding that the iX3 will be “more Chinese than ever.”
The iX3 is just the start, with a new electric sedan coming out next year. BMW will update the majority of its portfolio with Neue Klasse technology within two years after investing more than €10 billion in new software, batteries and factories, Zipse said.
“We already spent that money, and at the same time we achieve a high profitability,” he said.
RECOMMENDED FOR YOU
POPULAR