BMW is reimagining its 3 Series sedan for the electric vehicle era, a model that for decades has been the automaker's most popular and a symbol of professional success, allowing owners to boast to their neighbors, Bloomberg reports, writes UNN.
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On Wednesday, the German automaker will unveil the all-electric BMW i3 in Munich, the second new-generation model after the launch of the iX3 SUV in September. The new model shares many of the same features, including increased charging power and an improved digital interface.
Since its launch in 1975, the 3 Series has earned a reputation as a sporty and enjoyable car to drive, becoming the brand's most successful model. After seven generations, the bar is high – BMW fans and critics expect the latest version to live up to the line's reputation as the epitome of true driving pleasure.
BMW has spent several months retooling its Munich plant to produce electric versions of the 3 Series, with production scheduled to begin in the fall. The car can travel up to 900 kilometers on a fully charged battery and is capable of extending its range by 400 km in 10 minutes of fast charging.
Separately, the company is introducing an updated mild-hybrid 3 Series model – primarily with an internal combustion engine – which will look identical to the electric one. Internal combustion engine cars will be produced elsewhere. A plug-in hybrid is also planned for sale in the future.
The new approach carries risks for a brand that has so far performed better in the EV market than premium rivals Mercedes-Benz Group AG and Volkswagen AG's Audi. If demand for any of the new 3 Series variants proves low, BMW could be left with a plant operating at reduced capacity. The automaker aims to create an EV that can better compete with market leaders such as Tesla Inc. and China's BYD Co., the publication writes.
In 2022, BMW discontinued an earlier – and completely different – model called the i3. This unusual electric hatchback was launched in 2013 as the company's first mass-produced EV. The goal then was to attract early adopters of the technology and encourage them to try the German automaker's cars. Today, the goal is to convince customers who have been driving BMWs or competitor cars for years.
This approach to similar styling between EVs and gasoline-powered cars is also echoed by competitors. Mercedes now offers electric versions of existing models, including the GLC, and Porsche AG is doing the same with its Cayenne Electric.
The fact that EV prices generally match those of gasoline models makes it easier for consumers to switch to EVs, according to Bloomberg Intelligence analyst Michael Dean. BMW has not yet announced pricing for the new 3 Series models.
By next year, BMW plans to offer more than 40 new and updated models on its Neue Klasse platform, including the 7 Series and the X5 SUV. The company noted high customer interest in the iX3, adding that its plant in Hungary is already operating in two shifts to meet demand.
BMW has invested over 10 billion euros in the Neue Klasse platform, equipping it with modern software, ultra-fast charging, and an updated design.