BMW expects profit growth this year

German carmaker BMW predicts a large increase in pre-tax profit this year, expecting good results from all its brands, from MINI to BMW to the most luxurious Rolls-Royces vehicles. It also plans to accelerate its transition to electric vehicles as the economy recovers from a new coronavirus pandemic. BMW saw its net profit fall by 23 percent to € 3.9 billion in 2020 as the pandemic and related restrictions also affected vehicle sales. However, CEO Oliver Zipse stated that the company has a dynamic start to the new year and is trying to return to pre-crisis levels as soon as possible. BMW is committed to building on the recovery that began in the second half of last year and accelerating the introduction of electric models. Over the next 10 years, it wants to sell 10 million pure electric vehicles a year, instead of the previously estimated four million units. The group also announced that it will launch its new BMW i4 model three months earlier than planned. The carmaker wants its MINI brand to be fully electric "by 2030 and at the same time that by the beginning of the next decade 50% of the entire group's offer should be electric cars".