BMW Group Remains on Course and Reaffirms Outlook for 2018 - Saga Gist - Top Source for Nigeria News

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Saturday, August 11

BMW Group Remains on Course and Reaffirms Outlook for 2018




The BMW Group invested substantially in the mobility of the future during the first half of the year, while at the same time firmly continuing on its course of profitable growth. Rigorous implementation of the Group’s Strategy NUMBER ONE > NEXT is playing a key role, as the company shapes the transformation of the automotive sector. Driving this process forward, the BMW Group always remains focused on the needs and desires of its customers and is continuing its ground-breaking work on the four ACES topics (Autonomous, Connected, Electrified and Services/Shared). The BMW Group has also set a decisive course for its future in China, the company’s largest growth market.

“We continue to focus on following our own path and remain firmly on course. We are consistently preparing ourselves to meet the demands of tomorrow. This approach enables us to remain a reliable partner – all the more important during challenging times,” stated Harald Krüger, Chairman of the Board of Management of BMW AG, in Munich on Thursday. “The BMW Group has more than 100 years of experience in dealing with volatility in a changing world. Our vision remains clearly on long-term prospects. It is crucial that we remain focused on the key issues of profitability, growth and innovation to ensure our competitive edge going forward.”

As planned, this year the BMW Group has significantly increased its upfront expenditure on future mobility. Research and development expenses over the first six months of 2018 were more than € 300 million higher than in the corresponding period one year earlier and totalled € 2,610 million (+13.6%). As previously reported, full-year R&D expenses are likely to reach up to seven per cent of Group revenues in the current year (2017: 6.2%).

In addition to ramping up production to drive the new model offensive, the BMW Group is focusing on expanding its activities in the fields of electric mobility and autonomous driving. In both cases, the BMW iNEXT will serve as a technological spearhead that sets new standards.

 It will be presented to the public as a vision vehicle during the second half of 2018 and will be built at the Dingolfing plant from 2021 onwards. This underlines the significance of Germany as a key location for future technologies and a centre of competence for electric mobility.