BMW Kicks Off €10 Billion Line of Revamped EVs With New SUV (1)

BMW AG unveiled the first of a new range of electric vehicles meant to help the German carmaker push back against Chinese rivals and take back the lead in automotive engineering.

The iX3, a sport utility vehicle BMW debuted in Munich on Friday, comes with slick software, ultra-fast charging and a refreshed design. It kicks off the Neue Klasse, a line of EVs the manufacturer spent well over €10 billion ($11.7 billion) on to dethrone Tesla Inc. and BYD Co.

“This is the best overall product in the industry,” BMW Chief Executive Officer Oliver Zipse said in an interview with ...