BMW is ramping up spending on its electric-car rollout after the luxury-car maker’s battery-vehicle deliveries more than doubled during the first half of the year.
The level of buyer interest in EVs means BMW is "investing more than originally planned in the global ramp-up of e-mobility," Chief Financial Officer Walter Mertl said Thursday. During the second quarter, development spending jumped by nearly a fifth to 1.84 billion euros ($2 billion).
Battery-powered car sales made up about 13 percent of group deliveries during the first half led by demand for models including the i4 sedan and iX3 SUV. Next year, the proportion of EV deliveries is set to rise to at least one-fifth, BMW said.
Incumbent carmakers are battling to catch up to Tesla, which is pulling away in the global EV sales race following aggressive price cuts.
In China, the most important market for Volkswagen, BMW and Mercedes-Benz, local manufacturers like BYD are increasingly domi…