BMW hopeful on 2023, EVs ahead of schedule

STORY: BMW expects more than half of its sales to be all-electric vehicles well ahead of its 2030 target.

The carmaker said Wednesday (March 15) it could also see a hydrogen-powered car go into production in the second half of the decade.

BMW predicted a quarter of new sales would be all-electric by 2025, rising to a third by the year after.

The German auto giant was also cautiously optimistic about the upcoming year.

It sees slightly higher deliveries and better margin than 2022.

But BMW warned it still expected high costs from supply chain issues.

Finance chief Nicholas Peter said he expected energy and chip supply to stabilize, though the industry faced big cost burdens due to logistics bottlenecks and high raw material prices.

The company said it planned to keep prices stable.

That after years of dealing with rising costs by passing them on to customers.

The cautious tone was similar to outlooks across the auto industry.

Most car companies hope for a stronger 2023.

But they all have to deal with supply chain issues, high inflation, and questions over China's economic recovery.