BMW India Welcomes Tesla’s Entry, Says It Will Boost EV Sector
Reports of American electric vehicle (EV) giant Tesla, owned by billionaire Elon Musk, planning to enter the Indian market have sparked concerns among some domestic automobile manufacturers. However, BMW India has expressed confidence in the face of this potential competition.
Vikram Pawah, the Managing Director and CEO of BMW India, stated that Tesla’s entry would only serve to further accelerate the growth of the electric vehicle sector in India. “We want the EV market to grow,” Pawah emphasized, adding, “A segment develops only when there is more competition.”
Addressing concerns over competition from Tesla, Pawah remarked, “We have a presence in all global markets.” He pointed out that BMW has consistently seen growth in car sales, with a strong performance in the EV segment as well.
Highlighting the success of BMW’s electric vehicle efforts, Pawah revealed that the BMW Group sold over 400,000 electric vehicles worldwide last year, marking a 13.5 percent year-on-year growth in sales. This solid growth trajectory reflects the brand’s successful push into the electric vehicle market, and Pawah expressed optimism about continued success in India, even with the anticipated arrival of Tesla.
In summary, BMW India views Tesla’s entry as a positive development for the electric vehicle industry, believing that increased competition will drive further innovation and growth in the sector.
