WATCH: Going electric takes big bite out of BMW profits

BWM operating profits have fallen sharply as the firm invests heavily in developing new electric vehicles.

According to financial reports, BMW earnings fell 78% during the first quarter.

And much of that has gone down due to its new focus on electric vehicles, boosting its spending up to 36%.

The automaker has invested much in the new iX3, the firm's first electric SUV, which is due to go on sale in 2020.