BMW will introduce an electric sedan model at Germany’s premier auto show in Munich in September with a range of at least 400 kilometers, designed as a direct competitor to Tesla’s Model 3 sedan, Handelsblatt has learned from company sources.
BMW’s own 3 Series is its most lucrative line. The decision to offer the line as a fully electric model is seen as a direct response to the success of Tesla’s Model 3. BMW would not comment on the information.
Production of Tesla’s electric sedan is set to begin in the coming days but the company already has some 400,000 pre-orders. The success has made Tesla the most valuable carmaker in the United States at €54 billion, matching the market value of its much bigger German rival BMW.
BMW has already announced a shift in strategy that will see all of its current models offered as an electric alternative. The start has already been made with the smaller Mini brand and its X3 sports-utility vehicle, both of which are set to enter production in 2019.