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BMW hit a major milestone after selling over 50,000 EVs in the US in 2024 for the first time. Despite higher electric vehicle sales for the full year, BMW’s feat may not be as big as it seems. Here’s why.

BMW EV sales in the US top 50,000 in 2024

With another 13,876 fully electric vehicles sold in Q4, BMW’s EV sales reached over 50,000 in the US for the first time.

In the US, BMW sold a total of 50,981 EVs last year, up 12% from the 45,417 sold in 2023. Something worth noting is that BMW’s fourth-quarter EV sales fell 3.5% from 5,274 in Q4 2023 to 13,876.

BMW is one of the only automakers so far to report lower EV sales in the fourth quarter. Last week, Ford and GM both reported record Q4 and 2024 sales. GM topped its cross-town rival with over 114,400 electric cars sold last year (+50 YOY), compared to Ford’s nearly 97,900 (+35% YOY).

Overseas automakers, like Hyundai and Kia, are quickly outpacing BMW. The South Korean auto giants posted another record year in the US with new EV models rolling out in key segments.

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The new BMW i4 M50 xDrive (Source: BMW)

Meanwhile, pure luxury EV players like Lucid and Rivian are also stealing market share. In 2024, Lucid had four straight quarters with record deliveries, delivering 10,241 EVs in total last year.

Although it may not seem huge, Lucid is a direct competitor to BMW. Last year, it only sold one model, the Lucid Air. Now, Lucid is launching its first electric SUV, the Gravity.

BMW-50,000-EVs
2025 BMW i4 (Source: BMW USA)

Rivian’s deliveries also hit a new high for 2024 in the fourth quarter after overcoming a supply chain issue. With another 14,183 vehicles delivered in Q4, Rivian’s 2024 delivery total reached nearly 51,600. The EV maker is now ramping up production at its Normal, IL manufacturing plant after shutting it down for upgrades last spring.

How will this impact BMW iX sales? After slipping another 20% in the fourth quarter, BMW iX sales were down 11% in 2024, with 15,383 units sold.

BMW also sells three other electric cars in the US: the i4, i5, and i7. Last year, the i4 was BMW’s top-selling model, with over 23,400 units sold. However, sales were only up 3% compared to 2023 (22,583 units). BMW’s i5 notched the most growth, with sales up 310% in 2024, but only 8,763 models were sold.

Electrek’s Take

Although year-over-year sales growth is still an accomplishment, with a wave of new EVs hitting the market, will BMW be able to keep up in 2025?

Jeep is releasing its first luxury electric SUV. Volvo, Kia, and Hyundai are launching flagship three-row electric SUVs. Lucid’s Gravity is rolling out. And then, in 2026, we will finally see Rivian’s lower-cost R2 electric SUV.

BMW believes it has an answer with its Neue Klasse, or “New Class” of EVs, which will hit US showrooms in 2026. The company’s first Neue Klasse EV rolled off the production line last November as it prepares for a new era.

BMW claims its new EV series will have “30% more range, 30% faster charging, and a 25% overall improvement in vehicle efficiency.” The first BMW Neue Klasse model will be a crossover SUV, with five more set to launch by 2028.

One thing is certain: more advanced EVs at a lower price will soon be available. Stay tuned for more.

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Royal Enfield’s Flying Flea electric motorcycles launching early next year

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Royal Enfield's Flying Flea electric motorcycles launching early next year

Royal Enfield’s eagerly anticipated electric motorcycles, unveiled late last year under the Flying Flea brand, are now confirmed to hit the market early next year. Eicher Motors Managing Director B. Govindarajan narrowed down the release window, confirming that the two models currently in testing, the FF-C6 and S6, will debut in the fourth quarter of the fiscal year 2026, corresponding to January through March 2026.

The announcement provides a clear timeline for eager e-motorcycling enthusiasts who have closely followed Royal Enfield’s pivot to electric mobility. Previously, the company had remained relatively tight-lipped about exact launch dates and even many of the upcoming bikes’ key specs, only hinting that the electric motorcycle project was progressing steadily.

The Flying Flea name is a historical nod, reviving memories of Royal Enfield’s lightweight motorcycle originally used during World War II for airborne operations. Just like its iconic namesake, the new Flying Flea electric motorcycles are expected to be compact, accessible, and user-friendly, aiming at urban commuters and younger riders seeking a blend of heritage styling with modern electric propulsion.

The FF-C6 and S6 represent two distinct offerings within Royal Enfield’s electric lineup, signaling an ambitious start for the company’s electrification strategy. While specific technical details remain scarce, previous hints suggest that the models will prioritize practicality, affordability, and moderate performance suited to daily commuting rather than high-end, performance-oriented segments.

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However, with a dearth of solid specs regarding power, range, or pricing, it’s too soon to tell how warmly the bikes may be received during their upcoming launch.

This cautious yet clear step into electric mobility aligns with Royal Enfield’s traditional ethos of delivering approachable motorcycles that combine classic design with dependable performance.

The company, owned by Eicher Motors, has enjoyed success internationally over the last decade, particularly with models like the Classic 350, Meteor 350, and Himalayan, which have resonated strongly with both new and experienced riders. The Flying Flea line is likely destined for international markets as well, though may launch solely in India first as Royal Enfield works to ramp up production.

Royal Enfield’s venture into electric motorcycles also follows a strategic €50 million investment by Eicher Motors into Stark Future, a cutting-edge electric motorcycle startup based near Barcelona, which likely helped Royal Enfield’s technical team.

For example, at the Flying Flea brand’s worldwide unveiling at the Milan Motorcycle Show last year, one of the company’s driving prototypes was spotted using several Stark VARG powertrain components to complete a working model for demonstration.

With electric motorcycles rapidly gaining popularity worldwide due to their efficiency, lower maintenance costs, and environmental advantages, Royal Enfield’s entry into this market comes at an opportune time. The company’s robust global presence and dedicated fan base provide a solid foundation for launching these models successfully.

With the success of relatively smaller electric motorcycles compared to the struggles of larger sport bike e-motorcycle companies, the Flying Flea appears positioned for a more welcoming market.

Given Royal Enfield’s knack for delivering motorcycles with a blend of nostalgic aesthetics and modern functionality, expectations are high for the FF-C6 and S6 to carve out their own distinct niche in the electric two-wheeler market. For now though, fans are still eagerly awaiting more information and details regarding the performance and price of the upcoming electric two-wheelers.

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XPeng just teased its next-generation P7 sedan and it is SLEEK [Video]

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XPeng just teased its next-generation P7 sedan and it is SLEEK [Video]

It’s been less than a month since XPeng Motors began teasing a new camouflage sedan codenamed the E29. This morning (or this evening if you’re in China), XPeng unveiled the mystery sedan as its next-generation P7. This vast redesign of the Chinese automaker’s flagship BEV sedan is a bona fide stunner, and makes me wish I could drive one of my own in the US.

The P7 debuted at the Shanghai Auto Show in 2019 as XPeng’s first sedan and its second production model behind the now-discontinued G3 SUV. It was also the first XPeng model I ever drove during a trip to the Netherlands in 2022.

In its first two years of production, which began in 2020, XPeng built over 100,000 units of its flagship sedan, and the sport vehicle has remained a pillar in its global sales. Since its launch in China, we’ve seen XPeng deliver a 2023 refresh called the P7i and the P7+, complete with pure camera vision ADAS, which launched last fall as “the world’s first AI car.”

According to an internal letter sent out by XPeng founder, chairman, and CEO He Xiaopeng last December, the Chinese automaker has big plans for 2025 and beyond. It aims to become a globally recognized brand with a presence in over 60 countries by the end of the year.

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The internal letter also stated XPeng’s plans to launch a new or facelifted model nearly every quarter in 2025. In Q1, we saw the debut of the G7 SUV, starting at an ultra-competitive price of around $34,000 in China. Since then, XPeng has been teasing another new model, codenamed “E29,” spotted driving around Guangzhou, where XPeng is headquartered, in camouflage last month.

Today, XPeng confirmed the E29 is not a bespoke model, but instead a completely new generation of the P7, dreamt up by Chief Designer Rafik Ferrag, who led the creation of the original 2020 model. Have a look:

  • XPeng P7
  • XPeng P7
  • XPeng P7

XPeng shares first images of its stunning new P7 design

XPeng shared the initial images seen above alongside a brief press release outlining its exciting new design language as explained by its designer, Rafik Ferrag, who began teasing the new model on his own social media accounts earlier this week:

I’m very excited that the first official pictures and video are now visible to everyone. The original P7 was a milestone for XPENG and a turning point in China’s EV landscape. With this new generation, we set out to design a pure electric sports sedan that could amaze at every angle. This car is our dream—refined through countless iterations. In my eyes, the all-new XPENG P7 is a work of art, shaped with emotion and purpose.

The Chinese automaker explained that the new 5-seat P7 coupe reflects Ferrag’s “evolving design philosophy” and has been in development for the past five years. XPeng founder He Xiaopeng called it a “major upgrade” for the brand’s next leap in BEV technology, blending AI with luxury and the company’s new Turing Smart Driving system.

What specific technology the next-generation P7 holds remains unknown to the public at this time, but we were told more details will be revealed later. For now, we have our first official peek at this new futuristic model and a teaser video, which you can view below.

If the new P7 represents XPeng’s design language going forward, there should be many more exciting reveals in 2025 and beyond as the brand continues to expand into a globally recognized name.

Source: XPeng Motors

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Oil prices fall after Trump raises hopes of a U.S.-Iran nuclear deal

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Oil prices fall after Trump raises hopes of a U.S.-Iran nuclear deal

The Persian Gulf Star gas condensate refinery in Bandar Abbas, Iran, on Jan. 9, 2019.

Ali Mohammadi | Bloomberg | Getty Images

Oil prices fell sharply on Thursday on expectations that the U.S. and Iran may soon reach a deal over Tehran’s nuclear program.

International benchmark Brent crude futures with July expiry were last seen trading 3.2% lower at $63.99 a barrel, paring some of its earlier losses. U.S. West Texas Intermediate futures, meanwhile, stood at $60.98, down 3.4% for the session.

Speaking in Doha, Qatar during his Middle East trip, U.S. President Donald Trump said the U.S. was getting close to securing a nuclear deal with Iran.

“We’re in very serious negotiations with Iran for long-term peace,” Trump said.

His comments come shortly after a top advisor to Iran’s supreme leader told NBC News that the OPEC producer was ready to sign a nuclear deal with certain conditions in exchange for the lifting of economic sanctions.

The prospect of a U.S.-Iran nuclear deal is expected to have profound implications for oil markets.

“The overnight development of a possible nuclear deal is the sole reason for the morning’s weakness. If an agreement is reached, Iran agrees to halt enriching weapon grade uranium and the deal is effectively enforced, which is hard to believe, then the Persian Gulf country’s crude oil exports can rise by as much as 1 [million barrels per day],” Tamas Varga, an analyst at brokerage PVM, told CNBC via email.

“It sounds price negative, but its impact will possibly be mitigated by OPEC+ rolling back on its plan to release barrels back to the market faster than originally planned,” he added.

OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, has surprised markets by raising supply in recent months.

Led by Saudi Arabia, the group agreed in early May to increase output by another 411,000 barrels per day in June. The move came one month after OPEC+ agreed to boost production in May by the same amount.

Economic pain

Iran’s economy has deteriorated dramatically in the years since Trump in 2018 withdrew the U.S. from the Iran nuclear deal, formally titled the Joint Comprehensive Plan of Action. The agreement was brokered in 2015 along with Russia, China, the EU and U.K. under the Obama administration to curb and stringently monitor Iran’s nuclear activity in exchange for sanctions relief.

Already facing several years of protests, significantly weakened currency, and a cost-of-living crisis, the Islamic Republic was hit with the hammer blow of losing its main ally in the Middle East last year, when the Assad regime collapsed in Syria. Tehran’s archenemy Israel, meanwhile, killed most of the senior leadership of Hezbollah, Iran’s proxy in Lebanon.

Iran’s Supreme Leader Ayatollah Ali Khamenei was formerly staunchly opposed to negotiations with the U.S., but senior Iranian government officials reportedly launched a coordinated effort to change his mind, framing the decision as critical to the regime’s survival.

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