Cyprus Mail19 Jul 2026

German premium carmakers face challenge in global electric vehicle race

BMW is betting on its long-awaited Neue Klasse electric cars to revive its fortunes in China after two years of declining sales. The problem for the German automaker is that China’s EV race may have already moved on without it.

BMW, under new CEO Milan Nedeljkovic, issued a shock profit warning last month that it partly blamed on China – its ‌third in less than three years. Last Friday, it said China sales plunged 30 per cent in the second quarter....

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