BMW wants new SUV’s big margins to help the firm’s move to electric cars
Munich — BMW is unleashing its biggest sport utility vehicle (SUV) to date — a brawny, three-row, luxury cruiser targeted at churning out fat margins to help fund the company’s shift to electric vehicles. Featuring a massive vertical grille in the brand’s trademark kidney shape and glaring, narrow headlights, the new X7 will go on sale in 2018 to challenge the likes of the Cadillac Escalade, Lexus LX and Mercedes-Benz GLS. A prototype of the vehicle will be on display next week at the Frankfurt Motor Show. The X7 was revived after plans for a big SUV were culled almost a decade ago. At the time, the global financial crisis prompted BMW to rein in spending as high oil prices pushed consumers to smaller cars. But now, the German car maker is counting on upscale models to shore up its bottom line as it invests in next-generation vehicles, such as the self-driving battery-powered iNext, which will take years to pay off. While BMW this week announced plans to roll out 12 battery-powered ...
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