BMW plans to build 100,000 electric cars a year by 2020 image

BMW, the largest premium carmaker in the world plans to build 100, 000 electric vehicles a year, chairman of the board of management for BMW AG Norbert Reithofer said while announcing BMW’s economic results.

The company that already sells the i3 electric vehicle is running a  six-month wait list for the battery powered unit; and the automaker will start delivering the i8 plug-in hybrid sports car in June – in Germany, the US, China, Japan, and other countries.

“The i3 is going fantastically well,’ Werner Entenmann from a German dealership told Autonews of Europe.

“Our dealers all over the world tell us: They will easily be able to sell every single BMW i8 we produce,” Reithofer said.

Plug-in vehicle production is expected to steadily increase by 2018 according to the BMW CEO – before hitting full stride at the end of the decade.

100,000 electric units may seem a low number compared to what Tesla has in mind – selling 500,000 electric units a year by 2022; but considering that the best-selling plug-in vehicles sold about 20,000 units in 2013 – it would represent quite an increase.

The company has already invested about 600 million euros in the E-Mobility network and created more than 1,500 jobs

The automaker plans to sell 2 million vehicles this year – after it sold a record of 1.96 million cars last year.