MUNICH/FRANKFURT - BMW on Friday took the wraps off its Neue Klasse iX3 electric sport utility vehicle, a key model for the German carmaker that could help it reclaim some of the market share lost in its largest market China.
The model, which will enter production at the end of the year and go on sale in Europe in March 2026 at a price of 68,900 euros ($80,700), is one of BMW's great hopes in the global market for premium electric vehicles.
It is the first in a sequence of next-generation EV launches under the carmaker's branding umbrella Neue Klasse, German for new class.
Forming the backbone of that push, the iX3 has a range of more than 800 kilometres and is able to charge more than 370 kilometres worth of power within ten minutes.
"It represents a completely new model generation. A massive leap that will shape the entire brand for years to come," BMW CEO Oliver Zipse said at the showcase in Munich ahead of the official opening of the IAA Mobility car show.
Analysts at Deutsche Bank said that BMW was targeting a market share recovery with the launch of Neue Klasse in China, where BMW - along with other European peers - has suffered setbacks in light of aggressive local competition.
"As such, Neue Klasse's success in China will require a careful balancing act: adapting to local market demands and implementing a pricing strategy that resonates with Chinese consumers," they said in a recent note.
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