BMW says every other car it sells to be fully electric by 2030

BMW AG

BMW says every other car it sells to be fully electric by 2030

BMW AG UP 5.13% AT 84.43

BMW expects at least half of its sales to be zero-emission vehicles by 2030, setting a more conservative target than some rivals in the race to embrace cleaner driving.

In the short term, the German carmaker forecast on Wednesday a big year-on-year rise in pre-tax profit for this year, with a strong performance in all areas – from MINIS through its upmarket BMW brand to top-of-the-range Rolls-Royces.

Bernstein analyst Arndt Ellinghorst said BMW had entered 2021 “very confidently.”

“In terms of electromobility, BMW is making good progress and is taking significantly fewer risks than VW,” he said.

BMW said around 90% of its market categories would have fully-electric models available by 2023 and the electric BMW i4 would be launched three months ahead of schedule this year.

On technical fronts BMW AG RSI stood at 75.47 and currently stock is trading above all Moving Averages. So, BUY position can be taken with following target and stoploss.

TRADE SIGNAL -: BMW AG – BUY: 84.63, TARGET: 84.79, STOP LOSS: 84.60

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