Nice unbiased, even-handed Barron's article...bolds are mine:
Despite the lower profits, BMW (ticker: BMW.Germany) management is ramping up spending on research and development, reiterating the company's commitment to vehicle electrification. R&D spending in the first quarter amounted to 6.2% of sales, above management's long-term goal of 5% to 5.5%. In 2017 and 2018, BMW respectively spent 6.2% and 7.1% of sales on research and development.
BMW's growing commitment to autonomous driving and battery development is increasing competitive pressure on Tesla (TSLA). Even as the American electric-vehicle maker ramps up production of its new Model 3 sedan.
The back story: BMW, in many respects, is already Tesla's chief competitor.
A nicely appointed BMW 5 Series sedan, comparable with the TeslaModel S, retails for about $70,000. A BMW X5, comparable with the Tesla Model X, retails for about $70,000 before adding options. And the lowest-priced BMW 3 Series sedan retails for about $40,000. That BMW price point is one important reason that Tesla targets $35,000 for its base-level model 3 sedan.