BMW Group posted on Thursday an all-time high for its net profit during the 2021 financial year after surging 223.1% year-on-year, Kallanish reports.

Net profit for the premium manufacturer, which owns the brands BMW, MINI, Rolls Royce and BMW Motorrad, rose to €12.46 billion ($13.77 billion). A year earlier, this was €3.85 billion. The strong performance was delivered despite the semiconductor supply bottlenecks and rising energy and raw materials prices, executives said in Munich.

The share of electrified vehicles in the total group’s sales increased to 13% in the period, after rising 70.4% year-on-year to 328,314 units. In Q4, 96,739 EVs were delivered, accounting for 16% of the total sales volumes. It didn’t disclose EV sales by brand.

The group said e-mobility and digitalisation is driving its R&D costs, which in FY 2021 were up 10.7% y-o-y to €6.92 billion.