BMW has outlined a major strategic overhaul as the German automaker prepares for a new era of electric vehicles, artificial intelligence and increasingly regionalized production.
The company is targeting an automotive profit margin of between 8 and 10 percent and more than €7 billion in free cash flow by the early 2030s, according to Reuters.
BMW also plans to simplify its organization.
The company intends to reduce the number of divisions and management positions by around 20 percent by the middle of 2027.
China remains central to the strategy. BMW plans to increase localized production and wants the vast majority of vehicles sold in the country to be tailored to Chinese customer preferences by 2030.
The United States will also receive additional attention.
BMW confirmed plans for a new luxury SUV positioned above the X7, potentially creating a new flagship model in one of the industry's most profitable segments.
In Europe, BMW plans a new entry level electric model based on its Neue Klasse technology.
Artificial intelligence and autonomous driving are also expected to play increasingly important roles throughout BMW's operations.
