BMW Expands EV Lineup with Three Budget-Friendly Models

BMW Australia is setting its sights on the expanding leasing and fleet market by launching three new electric vehicle (EV) models. These variants will qualify for tax incentives, making them more appealing for corporate and individual buyers alike.

The forthcoming electric models and their preliminary prices are as follows:

• BMW i4 eDrive35: $85,900 before on-road costs
• BMW iX3 M Sport: $89,100 before on-road costs
• BMW iX1 eDrive20: $78,900 before on-road costs

These models will sidestep the Luxury Car Tax (LCT) since they are zero-emission vehicles, and the LCT limit is currently set at $89,332 for this fiscal year.

BMW has already launched the iX1 xDrive30, a small electric SUV priced at $84,900. It comes with a 67 kWh battery and offers up to 400 km of range. The new base variant of the iX1 will feature the same battery but will deliver up to 475 km of range. 

It’s set to arrive in Australia by Q1 2024.

Detailed Specs for Upcoming Models

The new iX3 M Sport will offer 210 kW of power and 400 Nm of torque, with an 80 kWh battery that provides up to 461 km of range. It’s slated to be available in Australia in Q4 2023.

As for the i4 sedan, it will feature similar specs to the iX3 M Sport but will offer a range of up to 430 km thanks to its 70 kWh battery.

These new variants align with BMW Group’s strategy to make 20% of its new vehicle sales fully electric. The luxury automaker plans to increase this proportion to 25% by 2025 and aims for one in three vehicles to be fully electric by 2026.

The Growing EV Market in Australia

Australia is witnessing a surge in electric vehicle interest, with more than 56,000 EVs sold in 2023 alone. Brands like BMW are capitalizing on this trend, especially given the raised LCT threshold, which makes more models financially viable for a broader range of consumers.

With these tax incentives and a growing selection of EVs, BMW and other luxury brands are increasingly well-positioned to meet the Australian consumer’s demand for greener transport options which further contributes to long-term emissions reductions.