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Own a Tesla? BMW will give you $1,000 off one of its electric cars if you switch, report says.

Jordan Hart   

Own a Tesla? BMW will give you $1,000 off one of its electric cars if you switch, report says.
  • BMW is taking aim at its biggest EV competitors with a new deal, CarsDirect reports.
  • Some luxury EV owners can reportedly earn $1,000 by switching to an electric BMW.

The race between carmakers to get customers to choose their electric vehicle brand is heating up.

BMW is offering $1,000 to owners who swap their EV for one of its electric cars, according to CarsDirect, which cited a bulletin that BMW sent to dealers last week. And, apparently you don't even have to trade your current EV in to take advantage.

The deal is part of its 2024 Conquest Program, and it's targeted at current owners of eligible electric models from Tesla, Mercedes-Benz, Audi, Polestar, Porsche, Rivian, Lucid, and more, the report said.

Business Insider reached out to a BMW representative to confirm the promotion but didn't receive a response.

Still, the offer is available only in western US states until April 1, CarsDirect reported. It applies to BMW i4, i5, and iX EV models. Owners of a Ford Mustang Mach-E or a Volkswagen ID.4 should also be able to cash in on the offer.

It's not the first time BMW has taken a shot at its biggest EV competitors.

Last summer, the German automaker announced it would join forces with Honda, General Motors, Hyundai, Kia, Mercedes-Benz, and Stellantis to create an EV charging network of 30,000 fast-charging plugs across North America. At the time of the announcement, Tesla led the pack with about 22,000 Supercharger stalls.

The cheapest BMW EV model eligible for this possible deal is the i4, which has a starting price of about $52,000 on the BMW website. For comparison, the Tesla Model Y costs from around $32,000.




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