BMW to fund technology drive by pushing luxury car sales
BMW is eyeing stronger sales of its luxury cars in order to fund investment in future technologies.
Automation and electrification development, as well as connected technologies, are seen as the main priorities by the manufacturer as it adapts to a fast-changing industry.
Its luxury car division currently generates the most profits and the German car giant is looking to roll out a number of new models, including the already-announced i8 Roadster and 8 Series, to further drive gains.
- December's issue of the Business Review Europe magazine - OUT NOW!
- Shell to build electric vehicle infrastructure with the likes of BMW and Volkswagen
- Eni and Fiat Chrysler team up to cut carbon emissions on the road
"We see it as a growth engine, and an ability to be more profitable," said BMW's sales and marketing chief Ian Robertson.
"We need to generate new ideas for the business model, as we go through the transition to a technology business from a car company. Clearly, there’s no other strategic investment that’s so important."
According to Autocar, BMW employs 2,000 engineers to specifically work on future technologies and has committed more money and resource to tech projects than any other area of R&D.
- Why Wipro has chosen Dubai for its APMEA headquartersLeadership & Strategy
- How Kenyan brands are disrupting using technology post-COVIDLeadership & Strategy
- Dubai vs Shanghai – the race to metaverse economy dominanceTechnology
- VMware – updating apps with the 7 Rs of modernisationTechnology