BMW, the anti-Tesla, is playing EV long game

It’s easy to be gloomy about European automakers facing intense competition from technologically sophisticated and lower-cost rivals like BYD and Xiaomi.

- Bloomberg

But at least one Western manufacturer is aiming to convince customers and investors it can compete with the best that China or Tesla offer—and I reckon BMW might have found a sweet spot. On Friday, the German automaker unveiled the electric iX3 sport utility vehicle. Car launches are generally overhyped and quickly forgotten, but this one matters: It showcases the advanced hardware and software that will underpin future BMW models, both battery-driven and gasoline-powered.

Dubbed Neue Klasse, in homage to the mid-range models that saved BMW from financial ruin in the 1960s, its new technological building blocks will enable greater battery driving range, faster charging, and a much better user experience. BMW says the iX3 can be driven as far as 805 km before plugging in; a 10-minute charge delivers a range of more than 370km. Representing more than $11.7 billion of investment and about five years in the making, BMW’s big reset looks to have been well calibrated for an era when autos are evaluated more for their software chops than horsepower.