BMW Plans Half A Million EV Deliveries In 2024, Partners With Mercedes: Report
Portfolio Pulse from Shivani Kumaresan
BMW aims to deliver over 500,000 EVs in 2024, indicating significant growth. Despite the end of a state-funded EV scheme in Germany, BMW's global plans remain unaffected. The company has also partnered with Mercedes-Benz Group China Ltd to manage a high-speed charging network in China and plans to expand its ChargeForward service in the U.S. Meanwhile, Volkswagen AG plans to stop selling combustion engine cars in Europe by 2035.
December 21, 2023 | 5:29 pm
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POSITIVE IMPACT
BMW's target to deliver over 500,000 EVs in 2024 and its partnership in China for a charging network indicate strong growth in the EV sector.
BMW's ambitious delivery target and strategic partnership for charging infrastructure in China are likely to be viewed positively by investors, suggesting potential for stock price growth in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Mercedes-Benz Group's joint venture with BMW to manage a high-speed charging network in China could enhance its competitive position in the EV market.
The collaboration with BMW for a charging network in China is a strategic move for Mercedes, likely to be seen as a positive development by investors, potentially leading to a short-term uptick in stock price.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Volkswagen's announcement to end sales of combustion engine cars in Europe by 2035 aligns with the industry's shift towards EVs.
Volkswagen's commitment to cease selling combustion engine cars by 2035 reflects the company's dedication to the EV market, which may be seen as a positive signal by investors, potentially benefiting the stock in the short term.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60