BMW is refusing to change its policies on e-bikes as the new price for the company’s electric cars rises by 40 percent, and it could eventually put the brakes on sales of the bikes, according to a report from the Wall Street Journal.
Read more from the WSJ.
The policy change came as BMW reported a decline in sales of electric vehicles.
It also comes as BMW aims to make a splash in the high-tech world with its self-driving car initiative, which is currently only being tested on public roads in the U.K. It plans to start its autonomous driving test program later this year.
According to the WSJD, BMW is now the only automaker in the world that does not require its customers to buy a new electric car after they have had their first electric bike.
Instead, the company is selling new cars at a reduced price.
According the WSJC, the new policy “allows for a new car purchase cycle, including the purchase of an electric vehicle at an initial cost of $1,000.”
The WSJD reports that the new BMW policy means that customers who have already purchased a car at a price of $5,000 or less will be able to buy an electric bike at a much lower price of less than $1 a day, instead of paying a total of $10,000.
The policy also means that all new electric vehicles sold in the United States will be made at a “substantially lower” cost.
The new policy also allows customers to return their BMW electric cars to BMW for a full refund if they have any questions about the car, and the company will offer to replace the bike with a new one.BMW declined to comment on the WSJB report, but a company spokesperson told the WSJJ that the company would continue to evaluate the market for electric vehicles in the future and “continue to explore and innovate” for the future.”BMW continues to listen to the needs of customers and believes that a strong, differentiated product portfolio for electric mobility can help drive long-term growth,” the spokesperson said.BMWs decision comes as other automakers are looking to increase sales of their electric vehicles as a result of the company making a splash with its autonomous-driving initiative.
Ford and Toyota are both rolling out self-driven vehicles in their respective markets.
Ford is testing a fleet of 20 self-powered electric cars in Florida, and has sold nearly 1 million vehicles so far, the WSJA reported.
Toyota has sold about 10 million of its Prius plug-in hybrids.