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BMW: Chip shortage situation still difficult

07 July 2021 18:53 (UTC +04:00)

Bayerische Motoren Werke (BMW) AG remarked on Wednesday that it expects the situation concerning the shortage of semiconductors to remain difficult and potentially impact the company's sales throughout the rest of the year, APA reports citing Teletrader.

Despite the shortage, the BMW Group managed to end the first half of 2021 with an all-time high in sales, with 1,339,080 total units and 153,267 electric (EV) and plug-in hybrid vehicles sold. The latter figure saw an annual rise of 148.5%. "We are on course to achieve solid, profitable sales growth," Pieter Nota, member of BMW's Management Board, said. "It is particularly pleasing that we were able to more than double our sales of EVs."

Earlier this year, BMW announced it has begun testing its vehicles with a hydrogen fuel cell drive train in real-life conditions. Meanwhile, the company stated it is planning to reduce its production costs by 25% per vehicle by 2025.