Azernews.Az

German automaker BMW has unveiled its first model in a new class of electric vehicles—the iX3 SUV—and plans to launch several more models in the coming months, Azernews reports, citing Tagesschau.

BMW CEO Oliver Zipse emphasized at the presentation that the iX3 represents the start of the company’s largest future project. The success or failure of this concept is expected to be decisive for BMW’s long-term prospects. The electric vehicle features a range of up to 800 kilometers, improved battery and motor efficiency, shorter charging times, and enhanced computing performance.

BMW has developed a dedicated technical platform for the iX3, on which at least five new models will be produced over the next two years. The company has invested billions of euros to fully adapt the platform for electric vehicles.

Experts note that success in the Chinese market will be particularly critical for this project, with the vehicle’s technology, software, and pricing strategy playing a key role. The iX3’s minimum market price has been set at 68,900 euros.

The iX3 will be produced in Hungary, and analysts say this will help BMW increase profit margins on electric vehicles in the coming years. Zipse also confirmed that the company’s overall automotive business target of an 8–10 percent profit margin remains unchanged.