BMW CEO Oliver Zipse says that companies must be careful about not becoming too dependent on some countries. Especially with respect to manufacturing, EV makers have been relying on some countries and it has impacted drastically. Zipse further added that there is still a market for combustion engine vehicles.
Combustion engine vehicles
“Combustion engine is the largest [automobile] market segment in absolute terms by far in Germany, also in Europe and worldwide. Before you simply switch off something like this within eight or ten years, you have to know what you are doing,” Zipse said in the meeting, first reported by German newspaper Automobilwoche. The meeting took place in the parliament’s CSU (Christian Social Union) group in February, a Christian-democratic and conservative political party in Germany.
BMW is actually a pioneer among European automakers in the race toward electrification. BMW created its EV division and introduced its first all-electric vehicle, the i3, in 2014. But its EV effort seems to have fizzled out since then while competitors like Volkswagen and Mercedes catch up with the launch of their own EV series.