BMW Group has officially launched the first model in its new electric vehicle series. This new vehicle aims to help the German automaker counter the impact from Chinese competitors and regain leadership in automotive engineering. On Friday, BMW debuted the sport utility vehicle (SUV) iX3 in Munich, featuring advanced software systems, ultra-fast charging technology, and an entirely new design style.

The launch of this model marks the official beginning of BMW's "New Class" (Neue Klasse) electric vehicle series. To surpass Tesla and BYD, BMW has invested over 10 billion euros (approximately $11.7 billion) in this vehicle series.

BMW CEO Oliver Zipse stated in an interview: "This is the best comprehensive performance product in the current industry, a global strategic model with benchmark-level configuration."

The automotive industry is currently experiencing turbulent transformation, making the market performance of this SUV crucial for BMW. On one hand, tariff policies introduced by US President Donald Trump have increased corporate costs, forcing automakers to adjust their supply chain layouts. On the other hand, Chinese new energy vehicle companies are moving rapidly, continuously entering the sluggish European automotive market and challenging BMW, Volkswagen Group, and Stellantis NV on their "home turf."

According to European testing standards, the iX3 has a maximum range of 805 kilometers (about 500 miles), and its charging system can add 372 kilometers of range in just 10 minutes. In comparison, Tesla's longest-range Model Y has a full-charge range of 622 kilometers.

Zipse revealed that the iX3 will have a starting price below 70,000 euros. However, in the current Chinese market, intense electric vehicle price wars are continuously squeezing automaker profits, and BMW faces pressure to further reduce the vehicle's selling price in China.

In the first half of this year, as BYD, Xiaomi Group, and XPeng Motors captured the world's largest electric vehicle market with high cost-performance models, BMW and MINI brand combined sales in China declined 15% year-over-year.

The launch of the "New Class" series is precisely aimed at reversing this situation. BMW is collaborating with Chinese partners including DeepSeek, Huawei, and Alibaba to create models that better meet Chinese consumer demands.

"Whether now or in the future, we will maintain competitiveness in the Chinese market," Zipse emphasized, stating that the iX3 will become "the most China-savvy BMW model in history."

The iX3 is just the beginning. BMW plans to launch a new electric sedan next year. Zipse stated that after investing over 10 billion euros in new software, battery technology, and factory construction, most BMW models will be upgraded with "New Class" technology within the next two years.

He pointed out: "We have completed this massive investment while maintaining high profitability for the company."