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Business News
Evaluating new s for Indian market: BMW
 
New Delhi, Jul 25 (PTI) German luxury carmaker BMW is evaluating options of launching new products, including electric vehicles, in India in next few years, a top official said on Thursday.

The company, which on Thursday introduced two models -- all new sports activity vehicle X7 and new version of 7 Series sedan -- in the country, however added that the new product launches would depend on market conditions.

"We have around five products planned for the coming years. Which one of those is better for India or at what time the launch will happen, I don't know," BMW Group India President Hans-Christian Baertels told PTI.

He further said, "ideally, we want to have them all and early but we will have to see a business case, see an environment that allows it to happen..and that is what we are basically evaluating on a weekly basis."

The number of models would go up significantly if the company's global portfolio of hybrid models is also included, Baertels noted.

When asked if the company planned to launch electric vehicles in the country, he said, "of course. In Europe people have accepted electric cars and now we are witnessing the same thing happening in India...our policy is to be ready and we have electric vehicles in our global portfolio...we are now in the process of figuring out which model makes sense and by when it could be introduced etc."

Depending upon the market dynamics and the government policies, the company would be ready to "switch the button" and be ready in no time, he added.

Terming the April-June quarter as tough, Baertels said the period did not work out as per the company's sales expectations.

"We are still swimming against the current. The numbers we planned (to sell) were very optimistic so we have tried to remain calm and this (slowdown) is not going to stay forever," he added.

The company launched its flagship sports activity vehicle X7 in India on Thursday priced at Rs 98.9 lakh (ex-showroom).

It also introduced the all new version of its 7 Series sedan with petrol and diesel engines priced in the range of Rs 1.22-1.34 crore.

Besides, the company has introduced a plug-in-hybrid variant of the 7 Series sedan priced at Rs 1.65 crore (petrol) and Rs 2.42 crore (diesel).

BMW India said it will locally produce diesel variant of X7 from its Chennai plant while importing the petrol version as a completely built-up unit (CBU).

Both petrol and diesel versions of the model are priced at Rs 98.9 lakh each.

"The first ever X7 opens up a brand new dimension in luxurious driving pleasure and is designed to elevate every moment of the journey," Baertels said.

The new model is the largest sports activity vehicle ever built by BMW. The petrol variant produces 340 horsepower (hp) and accelerates from 0-100 km/hr in just 6.1 seconds.

The diesel version produces 265 hp and accelerates from 0-100 km/hr in just seven seconds.

The height of X7 could be increased or decreased by air suspension. Other features include five zone automatic air conditioning.

Baertels said the 7 Series sedan is also being introduced as a plug-in hybrid variant in India for the first time "symbolising BMW's pioneering lead in future mobility".


RBI keep repo rate unchanged
Saudi Aramco raises USD 25.6 bn in largest-ever IPO
Rupee ends steady ahead of RBI policy outcome
Three directors of PMC Bank arrested
Bharti Airtel shares slip over 1 pc on rating concerns
Govt open to further reforms: Sitharaman
Rupee pares initial losses, settles 8 paise higher at 71.66 a dollar
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Sensex, Nifty scale fresh closing peaks; Yes Bank rallies over 7 pc
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Sensex ends 72 pts lower; Yes Bank drops 4 pc
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Govt considering to reintroduce restrictions on royalty payments
Anil Ambani resigns as director of Reliance Communications
KERALA NEWS
Kerala shocked by plight of poor mother, six children
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Kerala: Youth hurled down by Policeman during vehicle checking, seriously injured
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INTERNATIONAL NEWS
Iran informs UN about determination to continue Ballistic Missile Program
 Tehran: Iran informed UN Secretary-General Antonio Guterres about plans to develop its ballistic mis
Next Hearings in Trump Impeachment Process Scheduled on Monday - House Judiciary Committee
Burundi: 38 killed in landslide in Cibitoke
Putin signs off law to label journalists as foreign agents
NATIONAL NEWS
Naidu condemns attack on Unnao rape survivor
 New Delhi: Rajya Sabha chairman and Vice-President Venkaiah Naidu condemned the incident in which a
1984 riots: Javadekar slams Manmohan Singh, says if Rao was so bad, why did you become FM under him?
The Taxation Laws (Amendment) Bill 2019 returned to Lok Sabha
India conducts fresh night trial of Prithvi-2 missile
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