Sina Technology News On the afternoon of March 21, the BMW Group released its 2023 financial report today. The data shows that the BMW Group's revenue for fiscal year 2023 was 155.498 billion euros. In 2023, the BMW Group delivered 2,554,183 luxury cars worldwide, an increase of 6.4% over the previous year. Among them, 824,932 BMW and MINI cars were sold in the Chinese market, an increase of 4.2% over the previous year.
BMW and MINI electric vehicles are the main drivers for business growth. In 2023, the BMW Group delivered more than 375,000 pure electric vehicles worldwide, an increase of 74.2% over the previous year, achieving the target of sales of pure electric models accounting for about 15% of the Group's total sales. Coupled with plug-in hybrid models delivered throughout the year, the BMW Group sold more than 560,000 new energy vehicles in 2023, an increase of 30.5% over the previous year. In the Chinese market, the BMW Group will deliver around 100,000 BMW electric vehicles in 2023.
In 2023, the BMW Group's R&D investment increased sharply to 7,538 billion euros, up 13.8% year-on-year, accounting for about 5% of the group's revenue, and remained above 6 billion euros for three consecutive years. These investments are mainly focused on three directions: first, electrification and digital research and development of models; second, in the field of autonomous driving; and third, research and development of new models, including the new generation of BMW models.
According to the plan, the new generation of BMW models will be launched in the global market in 2025, and at least 6 models will be put into production within the next 24 months. The new-generation model will be domestically produced in Shenyang, China in 2026. The new generation of models will have three major features: first, a newly developed electronic and electrical architecture, and a new user interface and human-computer interaction concept; second, a newly developed electric drive and battery system with high performance and significant efficiency improvements; and third, the cycle sustainability of the entire product life cycle has reached a new level.