BMW announced on Friday that it was planning on releasing an all-electric version of its crossover X3 as well as an electric Mini. The move is a significant expansion of BMW's electric vehicle portfolio.
The company has a history when it comes to electric vehicles. It launched the i3 electric car in 2013, while the company tested out the Mini E in 2009, deploying a fleet of 500 cars across the world. In recent years, it has released the BMW i8, as well as the plug in versions of the X5 and a 3-series. The company has released a number of plug-in hybrid models, including the X5 xDrive40e, 225xe, 330e, and 740e models.
The new vehicles are expected to be released in 2019, and according to BMW CEO Harald Krueger, they will be "competitive" when it comes to range and price. Reuters suggests that BMW is facing pressure from rival automakers such as Daimler, Volkswagen and Tesla. Earlier this week at the Paris Motor Show, Volkswagen unveiled its own electric concept car, the I.D. Chevrolet is also set to release its Chevy Bolt EV before the end of the year.
Car manufacturers are also facing stringent environmental regulations as European Union emissions targets go into effect in 2021.