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Photo: Jan Woitas/picture alliance via Getty Imagesd

The BMW Group said Monday that it will make sustainability "central to the company’s strategic direction" as it rolled out new climate goals and revealed fresh details about its electric lineup.

Driving the news: The German automaker said it's setting emissions targets for 2030 that apply to vehicles' "entire lifecycle," including supply chains, production and use.

  • "The aim is to significantly reduce CO2 emissions per vehicle by at least one third across the entire spectrum," the company said.
  • BMW also announced that it will offer electric versions of its high-volume X1 SUV and 5-series sedan (though, as Bloomberg notes, it didn't provide a timeline for those models).

The big picture: These join several other electric vehicles previously announced by BMW, which aims to have five available by the end of 2021.

  • Overall, the company plans to be selling 25 models with some level of electrification by 2023, with half of them fully battery-powered, and hopes to have 7 million electrified cars on the road in 10 years.

The intrigue: Reuters points out that EU emissions regulations are pushing the continent's automakers toward electric vehicles.

Go deeper

Ben Geman, author of Generate
Oct 26, 2020 - Energy & Environment

Japan's big new climate goal

Climate protest in Tokyo in November 2019. Photo: Carl Court/Getty Images

Japan's new prime minister said on Monday the nation will seek to become carbon neutral by 2050, a move that will require huge changes in its fossil fuel-heavy energy mix in order to succeed.

Why it matters: Japan is the world's fifth-largest source of carbon emissions. The new goal announced by Prime Minister Yoshihide Suga is stronger than the country's previous target of becoming carbon neutral as early as possible in the latter half of the century.

33 mins ago - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Filings show Sweetgreen isn't profitable, despite claims

Illustration: Sarah Grillo/Axios

Restaurant chain Sweetgreen on Monday filed to go public, and revealed that it lost money in each year since 2014.

Why it matters: The company lied when it repeatedly told reporters it was profitable.