BMW Is Reportedly Planning An I-Branded Electric SUV To Take On Tesla Model X
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According to a German business magazine, BMW is planning to build a battery-powered SUV/crossover in the U.S. as a rival to the upcoming Tesla Model X. The plan has been already submitted and is awaiting board approval. The new i-branded SUV will be built at BMW’s plant in Spartanburg, South Carolina, where BMW builds the X3, X4, X5 and X6 crossover. The magazine also emphasized that BMW CEO Harald Krueger is “keen to add an electric SUV to compete with the Model X”.
Arndt Ellinghorst, Head of Global Automotive Research at Evercore ISI said in an investor’s note, ‘In our view, an i SUV makes perfect sense for BMW. SUVs are in demand and given the market’s reaction to Tesla’s Model X so far, it seems to be a good fit for families and suburban commuters.’
The new e-SUV is expecting to be rolled out in 2018.