BMW Sees EV Growth in US Slowing Down, But Remains Bullish

BMW AG remains bullish on battery-powered electric vehicles in the US, even though it’s expecting the sector’s market share gains to slow.

“Is there a growing market for electric vehicles? 100% yes,” Sebastian Mackensen, BMW of North America’s chief executive officer and president, told Bloomberg TV Tuesday. “Is the growth on the exact same level as maybe some experts have estimated a year ago or six months ago? Maybe not.”

Sebastian Mackensen, BMW of North America’s CEO and president, expects electric car sales in the US to grow at a slower pace over the next few years.

Source: Bloomberg

Mackensen said that BMW plans to manufacture six fully electric vehicle models in its Spartanburg, South Carolina, plant by 2030. The company also began construction in October on ...