BMW’s China-made Electric SUV Is Now $10,000 Cheaper
With the passage of time, the electric car industry has started making a name in the entire world. There was a time when the entire world was skeptical about using electric cars and preferred going for passenger ones. However, as the need for more eco-friendly vehicles was felt, the electric car manufacturing industry has grown bigger.
Out of all the electric car manufacturers, Tesla is the company that has emerged as the largest electric car manufacturing company in the world. Since Tesla was launched, one of its major goals was to cement its sales and deliveries in China. China is currently ranked as the largest electric car market in the entire world.
According to recent reports, Tesla has mass-producing its electric cars from the local manufacturing plants. On the other hand, several Chinese electric car companies have started taking over the Chinese markets in recent years.
This has started posing a great threat to the sales of some of the largest car manufacturing companies in the Chinese region. One of the companies whose electric car sales have been heavily affected by other companies is BMW.
However, in order to deal with the loss, BWW has come up with a plan in order to boost its sales in China. According to the reports, BMW has announced that it has cut the prices for its iX3 SUV in China, which is an all-electric vehicle.
By doing this, BMW has now brought the prices of its vehicles down to compete with the competitors in Chinese. At present, the top competitors BMW has in the Chinese electric vehicle market are Tesla and Nio, which is a Chinese startup.
BMW China has also updated the price of the vehicle on its website to confirm that the price has been changed. The announcement was made by BMW through its BMW China website on January 27, 2021. According to the recent update, the new price of the iX3 electric vehicle will start from 399,900, which translates to around $61,713.
This means that BMW has dropped the price of its iX3 electric vehicle by 70,100 yuan, which is around $10,800. The car is now 15% cheaper than it was when launched in the Chinese market back in September of 2020. When the BMW iX3 electric vehicle was launched in the Chinese market back in September 2020, its price started from 470,000 yuan.
As far as the vehicle class is concerned, it will be competing with NIO ES6 and Tesla Model Y with respect to its size. The prices of both the vehicles that Tesla and NIO had launched were much cheaper than what BMW had set for its vehicle at the time of the launch.
With the new price, BMW has surely made its way into the same pool as the rest and will hopefully, give a tough time to the competitors.