BMW CEO Oliver Zipse declared victory over rivals in the electric vehicle market strategy , claiming his company's cautious approach has been validated as competitors scale back ambitious EV targets. "We took a clear stand on this, even in the face of strong headwinds. Now the wind has shifted in our direction," Zipse told shareholders on Wednesday.
While competitors like Mercedes-Benz, Volkswagen, and Volvo made aggressive commitments to all-electric lineups five years ago, BMW maintained its strategy of offering multiple drivetrain options including combustion engines, hybrids, and electric vehicles.
"E-mobility as the sole technology leads to a dead end. That should be obvious by now," Zipse stated, doubling down on BMW's technological flexibility.
Legacy automakers have struggled with EV adoption
Traditional automakers have faced challenges convincing their established customer base to embrace electric vehicles. Companies including Mercedes and Volvo have recently walked back their earlier EV sales targets as market growth proves slower than anticipated.
Even Tesla, the industry's EV pioneer, hasn't been immune to the slowdown. The company experienced its first annual sales decline since the Model Y launch and continued struggling through the first quarter of this year.
BMW says it stays flexible while expanding EV offerings
Despite advocating for technology openness, BMW isn't avoiding the EV market. The company reported 14% growth in electric vehicle sales last year, with over 426,500 vehicles sold across its BMW, Mini, and Rolls-Royce brands.
"Technology openness means following the markets, because markets evolve, but not all at the same pace," Zipse explained.
BMW is also preparing to launch the iX3 mid-size electric crossover by year-end, built on its new dedicated EV platform called "Neue Klasse." The company further plans to introduce hydrogen fuel-cell powered vehicles in 2028, maintaining its multi-technology approach in an increasingly uncertain automotive landscape.
While competitors like Mercedes-Benz, Volkswagen, and Volvo made aggressive commitments to all-electric lineups five years ago, BMW maintained its strategy of offering multiple drivetrain options including combustion engines, hybrids, and electric vehicles.
"E-mobility as the sole technology leads to a dead end. That should be obvious by now," Zipse stated, doubling down on BMW's technological flexibility.
Legacy automakers have struggled with EV adoption
Traditional automakers have faced challenges convincing their established customer base to embrace electric vehicles. Companies including Mercedes and Volvo have recently walked back their earlier EV sales targets as market growth proves slower than anticipated.
Even Tesla, the industry's EV pioneer, hasn't been immune to the slowdown. The company experienced its first annual sales decline since the Model Y launch and continued struggling through the first quarter of this year.
BMW says it stays flexible while expanding EV offerings
Despite advocating for technology openness, BMW isn't avoiding the EV market. The company reported 14% growth in electric vehicle sales last year, with over 426,500 vehicles sold across its BMW, Mini, and Rolls-Royce brands.
"Technology openness means following the markets, because markets evolve, but not all at the same pace," Zipse explained.
BMW is also preparing to launch the iX3 mid-size electric crossover by year-end, built on its new dedicated EV platform called "Neue Klasse." The company further plans to introduce hydrogen fuel-cell powered vehicles in 2028, maintaining its multi-technology approach in an increasingly uncertain automotive landscape.
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