Since India’s automobile market has become the third largest in the world, various foreign companies are lining up investments in India. Two-wheeler or four-wheeler, companies are equally enthusiastic in all sectors. German luxury car maker BMW has announced plans to launch electric vehicles in India soon.
A BMW official was quoted by news agency PTI as saying that nine per cent of their total sales in India come from electric vehicles. Hence a target has been taken to increase it to 25% by 2025. It is also reported that the demand for the company’s electric vehicles in India is increasing.
“One is volume, and the other is technology,” BMW Group India president Vikram Pawa said in a recent interview. He added, “At the rate our business is growing, local manufacturing of electric vehicles in the country is essential. We are getting good response from this country”.