Despite intentions to compete with Tesla, the BMW iX driving range is lesser than the estimated driving range of the Tesla Model X Long Range.
German multinational company BMW AG (ETR: BMW) is planning to launch its electric sport utility vehicle (SUV) BMW iX in 2022. The company aims to launch its electric SUV to rival Tesla Inc (NASDAQ: TSLA) and other electric vehicle makers.
According to a Reuters report, the German company is planning to unveil its new electric SUV for sales in the US. Upon its roll-out in early 2022, BMW said the anticipated iX driving range should be 300 miles.
What BMW iX Will Offer to Drivers in 2022
Despite intentions to compete with Tesla, the BMW iX driving range is lesser than the estimated driving range of the Tesla Model X Long Range. The Tesla Model X Long Range is rated at 371 miles in the US.
The German multinational company said that vehicle would be able to add 75 miles with ten minutes of charging. Revealing more details on the iX, BMW said that the vehicle’s dashboard would be a curved screen. Also, the size of the iX would be similar to the current BMW X5 SUV. The new model would be produced at BMW’s Dingolfing factory in Southern Bavaria, Germany.
The production would begin in the second half of 2021 to prepare roll out to the US in early 2022.
The Verge noted that within 40 minutes, the iX battery could charge from 10% to 80% capacity. In addition, the battery can charge from zero to its full power under 11 hours at an 11kw Level 2 charging station.
BMW did not give details on the pricing of the anticipated model. The company’s spokesman said in The Verge report:
“It is too early to answer any pricing or specification questions.”
BMW and Competitors
Apart from BMW, the Cadillac brand of General Motors Company (NYSE: GM) has also unveiled LYRIQ- the company’s first Ultimum-powered vehicle to be revealed publicly. General Motors has further plans to launch new electric cars in the coming year, as LYRIQ should launch in 2022. In an announcement, General Motors added that the Cadillac LYRIQ would be built at the “Spring Hill, Tennessee facility.”
Chinese company Nio Inc (NYSE: NIO) is also in competition with the EV giant Tesla. On the 9th of November, JPMorgan Chase & Co (NYSE: JPM) analyst Rebecca Wen predicted that NIO would be a “winner” among other EV makers. According to a report by Marketwatch, Wen also has bullish estimates on Nio’s share market. The analyst said the Chinese company would account for 30% of the total market share by 2025.
In addition, Reuters mentioned more EV companies and their recent achievements. Ford Motor Company (NYSE: F) has highlighted its manufacturing plains in North America. The company said Mustang Mach-E, F-150 Electric, E-Transit, and other undisclosed models.
Earlier this year, BMW unveiled i4 EV to compete with Tesla luxury sedans.
Source: Read Full Article