Bayerische Motoren Werke Aktiengesellschaft

Welcome to the BMW Group Annual Conference 2023.

Here is Oliver Clipson.

Ladies and gentlemen, the BMW Group is a company that takes the long view, that is profitable even in a volatile environment and that always charts its own course. In 2022, we grew in three different ways with the complex challenges we faced with e-mobility and with our earnings. On the one hand, our focus is on operational excellence in the here and now. We know we can handle complexity. We can pivot quickly if the situation requires, and that makes the company more resilient than ever. And on the other hand, we consistently maintain our course for the future, realizing our goals with determination. A good example of this is our BEF ramp-up since 2013. We steer it to closely track growing demand. And since the start of the BMW i3, we've put more than half a million all electric, BMW and many vehicles on the roads worldwide. And in fact, we sold more than 215,000 all electric vehicles just last year. And that is more than double the number from 2021, despite the difficult supply situation. We deliver on our promises. that has been a differentiating factor for BMW for over 100 years. With our strong BEV growth, we are leaving established competitors far behind, not to mention many of the BEV-only manufacturers from the United States and Asia who are new to the market. This is true both in absolute terms and also in terms of our growth dynamics. And we continue to up the pace. Demand remains strong. That's why all electric vehicles are expected to account for 15% of our global sales this year already. This will mean another big leap and the highest absolute increase we have targeted to date. We've clearly defined the next milestones for our BEV ramp-up. a fifth of overall sales in 2024, a quarter in 2025, and a third in 2026. With this momentum, more than half the vehicles we sell worldwide will be all-electric before 2030. It goes without saying that the percentage in Europe will already be well over 50% by then. And if individual markets or regions demand 100% e-mobility at a certain point in time, we will be ready and able to deliver. BMW, Mini, Rolls-Royce and BMW Motorrad already offer fully electric cars and two-wheelers in practically all the segments we serve. We already have a dozen fully electric cars in our lineup this year, covering a range of different customer requirements. Last year, I was only able to show you the profile of the BMW i7 and the BMW iX1. And today, those production models are standing right here beside me. Both vehicles are fresh on the market and impressing the media and customers alike. With all our BEVs, we are attracting an especially high number of new customers across different segments. And that is another reason why we are expanding our BEV range in a deliberate manner and we are not done yet. In 2023, we will take the next big step to fulfill the diverse technological needs of our customers around the globe. Later this year, we will be realizing the latest version of the world's most successful business sedan on the market, the new BMW 5 Series, including, of course, the fully electric i5. This will also be followed in 2024 by two plug-in hybrid variants. The official launch is still a few months away, but behind me you can at least see the camouflaged i5. Production will get underway in the summer. From October onwards, the i5 will initially be released in Korea, Europe, and the United States. BMW M fans get to experience the perfect harmony of e-mobility and dynamic performance in a very unique way. BMW M GmbH reported a record year to mark its 50th anniversary in 2022. And the best-selling model was the fully electric BMW i4 M50. I think that speaks for itself. It is another reason why we are also bringing the new BMW i5 onto the market as an M performance model. And today I can also announce the new BMW 5 Series Touring, which is particularly popular here in Europe. Our touring fans will be excited to hear that an all-electric version of the Touring will also be available for the first time from spring 2024. That is our unique selling point in this segment. I can also officially confirm the new BMW X2 and of course the all-electric iX2. This is already BMW's second best offering in the high-volume compact class. And like the iX1, we're building the iX2 in Germany at our Regensburg plant. It will be launched towards the end of this year. E-mobility is a priority for us and we measure ourselves against this. That is why starting this year the BEV share of total sales will be a key performance indicator for our management of the company. Our BEVs also make a vital contribution to achieve further tangible reductions in the CO2 emissions of our Europe new vehicle fleet. At 105 grams of CO2 per kilometer in the WLTP cycle, we even outperformed the EU 27 plus 2 fleet target by 22.5 grams per kilometer by the end of 2022. As you can see, the BMW Group can also be relied on to meet political directives, and we are pressing ahead with our BEV ramp-up. At the same time, we remain true to our broad technological approach. Why? Because we don't want to miss out any market potential, and this is the only way to effectively contribute to climate protection in all markets. It is also the only way we could continue to take different customer needs in the regions and markets into account. In addition to BEVs, we are also seeing particularly strong growth in the profitable high-end premium and luxury segments. More specifically, We anticipate growth here in the mid double digit percentage range in 2023. Thanks to attractive models like the new BMW 7 Series, the BMW X7 and the BMW XM and of course the Rolls-Royce model family. This will be joined in the spring by updates to the BMW X5 and the BMW X6. From 2025 onwards, the Neue Klasse will bring added momentum to sales of our all-electric vehicles. We intend to release at least six models onto the market within 24 months of the start of production. But before we look ahead to the future, here's Nicolas Peter to talk about our key figures for the financial year 2022.