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Here's a Sneak Peek into BMW's EV Offerings For 2020 & 2021

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With heightening concerns about rising fuel prices and climate crisis, electric vehicles (EVs) seem to be the best solution in hand. Automakers, thus, are working to tap the growing EV market. BMW AG (BAMXF - Free Report) , which did not launch any EV after the debut of its i3 model in 2013, is set to roll out three new models over the next two years. The BMW i4, along with the BMW iNEXT, an all-electric crossover, will set foot on the market in 2021, while the BMW iX3, an all-electric SUV, is due to go on sale by the end of this year.

The German giant recently launched Concept i4, an all-electric sedan, which is designed to combine the sportiness with the spaciousness and versatility of a four-door Gran Coupe. The BMW Concept i4 is claimed to be capable of running up to 600 km on a single charge. With a 150kW charger, the i4's battery can be charged to 80% in 35 minutes. Its electric powertrain can churn out 537 PS of power output. Also, it can accelerate to 0-100 kmph in 4 seconds, with a top speed of 200 kmph. The design of the BMW Concept i4 shows fantastic proportions, strong expressive character and attention to detail. With the BMW curved display, the firm has redefined BMW's iconic driver focus, transporting a feeling of sustainable driving pleasure.

BMW iX3 will rely on a 74-kWh battery pack, which will enable it to travel up to 273 miles (440 kilometers), on a single charge. The BMW iX3 will be sold in Asia and Europe, with manufacturing set to begin in China in the second half of 2020.

BMW iNext is expected to include hardware that could take the iNext to Level 3 autonomy at up to 80 MPH. This means hands off the wheel and also eyes off, until the car urges the driver to regain control and focus. The iNext will be on sale in Europe and the United States, with production set to begin in mid-2021.

With the growing popularity of greener vehicles, the firm expects its worldwide EV sales to increase more than 30% each year. BMW targets to have 25 electrified models in its line-up by 2025. It will create flexible vehicle architecture to offer fully-electric vehicles, plug-in hybrids and models with combustion engines, enabling the company to adapt to the ever-changing market conditions.

Zacks Rank & Stocks to Consider

BMW currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Auto-Tires-Trucks sector include LCI Industries (LCII - Free Report) , SPX Corporation (SPXC - Free Report) and Adient PLC (ADNT - Free Report) . While LCI sports a Zacks Rank #1 (Strong Buy), SPX and Adient carry a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

LCI has an estimated earnings growth rate of 20.72% for the ongoing year. The company’s shares have gained 23% in a year’s time.

SPX has an expected earnings growth rate of 6.52% for 2020. The stock has rallied 20.7% in the past year.

Adient has a projected earnings growth rate of 17.79% for the current year. The company’s shares have appreciated 18.1% over the past year.

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