BMW Australia is expanding its electric vehicle (EV) lineup with three new variants that will be eligible for tax exemptions and fall under the Luxury Car Tax (LCT) threshold. The move is aimed at capturing a larger share of the leasing and fleet market, which is experiencing rapid growth.
The three new EV variants include the BMW i4 eDrive35, priced at $85,900 before on-roads; the BMW iX3 M Sport, priced at $89,100 before on-roads; and the BMW iX1 eDrive20, priced at $78,900 before on-roads. These vehicles will qualify for fringe benefit tax exemptions and fall under the LCT threshold for zero-emission vehicles, which is set at $89,332 for this financial year.
BMW has already introduced the iX1 xDrive30, a small electric SUV based on the BMW X1 platform, which falls below the tax threshold. It has a starting price of $84,900 and is equipped with a 67 kWh battery pack that provides a range of up to 400 km. The new base variant of the iX1 will have the same battery pack but deliver up to 475 km of range. It will be available in Australia in the first quarter of 2024.
Another upcoming addition to BMW’s EV lineup is the iX3 M Sport, which features a powertrain offering 210 kW of power and 400 Nm of torque. It is equipped with an 80 kWh battery pack that provides a range of up to 461 km. The iX3 M Sport is expected to be available in Australia in the fourth quarter of 2023.
The final variant is the electric i4 four-door sedan, which shares a similar powertrain with the iX3 M Sport. It offers 210 kW of power and 400 Nm of torque, allowing it to accelerate from 0-100 km/h in 6 seconds. The i4 is equipped with a 70 kWh battery that delivers a range of up to 430 km.
These new variants align with BMW’s goal of having 20% of its new vehicle sales be fully electric by 2025, with a further increase to 25% by 2026. The company aims to reduce overall emissions by promoting EV adoption.
The Australian market is witnessing an influx of electric models as more drivers explore EV options across various segments. With over 56,000 EV sales in 2023, brands like BMW are expanding their EV offerings to meet the growing demand.
The introduction of these new EV variants, combined with the increased LCT threshold, will make EVs more accessible to customers and contribute to long-term emissions reduction.
BMW plans to introduce three additional electric vehicle models below important tax thresholds
In a highly anticipated move, BMW has announced its plans to diversify its electric vehicle (EV) lineup with the introduction of three new models. These models aim to target the lower end of the market by positioning themselves below the important tax thresholds set by various countries around the world. This strategic move aligns with the German automaker’s commitment to sustainable mobility and increasing its market share in the rapidly growing EV segment.
With governments around the world increasingly implementing tax incentives to promote electric mobility, BMW recognizes the need to offer more affordable options to tap into a wider customer base. These incentives, coupled with the continuous advancements in EV technology, provide an excellent opportunity for manufacturers like BMW to accelerate the global adoption of electric vehicles.
The first model to be introduced below the tax threshold is the BMW i2. This compact electric vehicle will have a range of approximately 200 miles on a single charge and is expected to come equipped with advanced features and state-of-the-art technology. By positioning the i2 below the tax thresholds, BMW aims to make electric mobility accessible to a larger audience, including budget-conscious consumers and fleet operators.
The second addition to BMW’s EV lineup will be the BMW i4. Positioned as a mid-sized sedan, it will also fall below the crucial tax thresholds. The i4 is expected to have impressive performance capabilities, boasting quick acceleration and a range of over 300 miles. The stylish design and advanced features of the i4 aim to attract customers seeking a combination of sustainable mobility and luxury.
Lastly, BMW plans to introduce the BMW i6, a larger electric SUV that will also target the tax threshold segment. As SUVs continue to dominate the global automotive market, the i6 aims to offer a spacious and versatile electric alternative to conventional petrol-powered SUVs. Its expected range of over 400 miles is an impressive feat that may alleviate range anxiety concerns and further entice consumers into the world of electric mobility.
By expanding its lineup of electric vehicles below important tax thresholds, BMW seeks to make a significant impact on the global automotive market. The demand for electric vehicles has been steadily increasing over the years, with consumers becoming more conscious about reducing their carbon footprint and governments supporting the transition towards cleaner transportation options.
While the cost of electric vehicles remains a barrier for many, tax incentives play a crucial role in making them more financially accessible. BMW’s strategic approach to introduce three additional models below these thresholds not only aims to attract a wider consumer base but also contributes to reducing emissions on a larger scale.
The success of this strategy will heavily rely on BMW’s ability to make electric mobility more affordable without compromising on quality, performance, and overall driving experience. Additionally, the availability and accessibility of charging infrastructure will be vital for prospective customers to confidently make the switch to electric vehicles.
As the world moves towards a greener future, the automotive industry is witnessing a pivotal moment. BMW’s commitment to sustainable mobility and its plans to introduce three new electric models below important tax thresholds demonstrate the company’s determination to remain at the forefront of the electric vehicle market. Through its innovative and accessible offerings, BMW aims to cater to a diverse range of consumers, while contributing to a cleaner and more sustainable environment for all.