The electric vehicles market has been turning into a real battlefield as more companies are venturing to occupy a more considerable space in the market. In a step to give tough competition for Tesla (TSLA), BMW has been gearing its weapon, iNext electric car, ahead of the next week launch. The vehicle is expected to give a stiff fight with Tesla Model 3 and Volkswagen I.D. Concept.
Apart from the regular automakers such as Ford (F), General Motors (GM) and Toyota Motor (TM) who have already started producing electric cars, the luxury car maker like Volkswagen, BMW and Mercedes-Benz are giving it a try to scoop out their portion. The market has been dominated by Tesla, but the company has its own set of problems to face that led automakers to create a new space in the electric vehicles market.
BMW has unveiled the design sketches of the vehicle as there remained very fewer details of the iNEXT. It is expected that the recent Vision NEXT concepts would influence the vehicle. The concept car could be showcased by BMW next month, and the production one could be unveiled in 2021. Also, the car could be priced in similar lines of the base Model 3 and likely be a midsize 3-series sedan.
The BMW weapon is expected to be showcased in five different locations around the world, but the vehicle will be traveling in a Boeing 777F from the Lufthansa Cargo fleet between September 9 to 14. The vehicle tour will start in Munich via New York, San Francisco, Beijing and complete the expedition in Frankfurt.
The vehicle has been creating massive hype in the EV market as BMW’s sales head Ian Robertson last year said the iNext would be the real competitor in the segment against Model 3. Ahead of the iNext, BMW is also gearing to launch two all-electric vehicles that could have partial autonomous driving capabilities feature.
Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,
Advanced Micro Devices, Inc. (NASDAQ: AMD) this week issued a cautious outlook for the first quarter of 2023, after reporting stronger-than-expected fourth-quarter results. The chipmaker did not provide full-year guidance,
Meta Platforms, Inc. (NASDAQ: META) reported fourth quarter 2022 earnings results today. Revenue declined 4% year-over-year to $32.17 billion. Net income fell 55% to $4.6 billion while EPS dropped 52%