BMW set to begin electric mini and SUV development
According to a new report, BMW is set to proceed with the expansion of its electric car efforts. Despite initially wavering as to whether they were to commit to the project, the decision has reportedly now been made for the development to begin.
The German business magazine Handelsblatt reported on Monday, that the German automaker was intending to restructure its board and start development on electric versions of its Mini, BMW3 series and X4 SUV models.
The report also said that BMW’s board was “expected to approve the new electric models during a two-day meeting at the end of the months.”
The restructuring of the board will see chief financial officer Friedrich Eichiner replaced by Nicolas Peter, the company’s current European sales chief.
Paloma Brunkhorst told Fortune Monday Morning that, “This is only speculation and we can’t comment on this,” BMW’s electric i3 model shipped a meagre 25,000 units last year, most likely due to strong competition from Tesla. The board has allegedly been reluctant to invest more money into electric car development until sales improve.