BMW Chief Executive Officer Oliver Zipse said companies must be careful not to become “too dependent on a select few countries by focusing only on electric vehicles,” adding that there was still a market for combustion engine cars.
“When you look at the technology coming out, the EV push, we must be careful because at the same time, you increase dependency on very few countries,” Zipse said at a roundtable in New York.
“If someone cannot buy an EV for some reason but needs a car, would you rather propose he continues to drive his old car forever? If you are not selling combustion engines anymore, someone else will,” said Zipse.
Zipse has long advocated against all-out bans on combustion engine car sales in the face of rising pressure to curb carbon emissions and environmental impact.
Offering more fuel-efficient combustion engine cars was key both from a profit perspective and an environmental perspective, Zipse argues, pointing to gaps in charging infrastructure and the high price of electric vehicles.
Companies also needed to plan for energy prices and raw materials to remain high by being more efficient in their production and stepping up recycling efforts to keep costs down, he said. “How much energy you need and use, and circularity, is important – for environmental reasons but even more for economic reasons.”
- Manuel Schneider, BMW’s Head of Business Model Innovation, is speaking at MOVE in London on 15/16 June. With over 600 speakers across 33 themed stages MOVE is the world’s most important mobility event. Find further details here: