BMW Premieres iX3, Aims to Compete with Rivals

Munich, Germany – BMW unveiled its latest electric vehicle, the iX3, during a world premiere ahead of the International Motor Show (IAA Mobility). This marks the debut of the SUV as the first model in BMW’s new electric vehicle series, known as the “Neue Klasse.”

During a pre-show interview with CNBC, BMW CEO Oliver Zipse emphasized the significance of the iX3. He described it as a culmination of a five-year development process. “It is the most important and the biggest single investment we’ve done ever, and it shows the path into the future,” he said. Zipse announced that the iX3 will be the first of several models that leverage new technology.

BMW, headquartered in Munich, is gearing up for fierce competition, particularly against rising Chinese automotive companies and U.S. electric vehicle manufacturer Tesla. Zipse stated, “There is fierce competition, especially price competition in China. There are a lot of new players in the market and a tough fight about market share.”

The iX3 features an innovative digital architecture, which replaces traditional hardware with a centralized computer system boasting over 20 times the computing power of current models. This new “digital nervous system” enhances automation, infotainment, climate control, and comfort features across the vehicle.

As the electric vehicle market heats up, BMW seeks to position itself strongly. Currently, the company holds just over 3% of the global market share. Despite the stiff competition, Zipse remains optimistic about BMW’s brand strength. “BMW is a promise. The brand is a promise to have the highest possible quality, to have the latest technology, and to be very customer oriented,” he added.

Year-to-date, BMW shares have risen approximately 13%, reflecting confidence in the company’s direction.