WATCH: Going electric takes big bite out of BMW profits

Image: Reuters
Image: Reuters

BWM operating profits have fallen sharply as the firm invests heavily in developing new electric vehicles.

According to financial reports, BMW earnings fell 78% during the first quarter.

And much of that has gone down due to its new focus on electric vehicles, boosting its spending up to 36%.

The automaker has invested much in the new iX3, the firm's first electric SUV, which is due to go on sale in 2020. 

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