BMW: raises research spending to keep pace in electric cars
(CercleFinance.com) - BMW Group intends to increase upfront expenditure on research and development to an all-time high in 2018, the German premium carmaker said on Wednesday.
The Munich-based company - which invested 6.1 billion euros in 2017 - said it plans to "significantly" increase its expenditure in the field of electric mobility.
Despite these higher investments, BMW Group said it targets a ninth successive record year in 2018, aiming at a pre-tax profit of over 10 billion euros.
The group said strategic decisions that have recently been taken - including acquisitions in the digital world - will begin to bear fruit in 2018.
In all, the auto giant aims for its BMW brand to regain pole position in the premium segment by 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Munich-based company - which invested 6.1 billion euros in 2017 - said it plans to "significantly" increase its expenditure in the field of electric mobility.
Despite these higher investments, BMW Group said it targets a ninth successive record year in 2018, aiming at a pre-tax profit of over 10 billion euros.
The group said strategic decisions that have recently been taken - including acquisitions in the digital world - will begin to bear fruit in 2018.
In all, the auto giant aims for its BMW brand to regain pole position in the premium segment by 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.