BMW Chief Labels EV-Only Approach as a 'Dead-End' | Carscoops

      The leader of the brand has identified varying market conditions as a factor preventing a complete transition to electric vehicles (EVs).

      The automaker is still dedicated to internal combustion engine (ICE), hybrid, electric, and hydrogen-powered vehicles.

      BMW is witnessing increasing demand for its electrified vehicles and has several new EVs in the pipeline.

      The company is preparing a new hydrogen vehicle, developed in collaboration with Toyota.

      In the past, BMW faced criticism for its slow pace in creating attractive EVs and was one of the rare major manufacturers that did not set a definitive date for when it would exclusively sell EVs. However, as some competitors retract their EV-only commitments, the more cautious strategy from Munich seems to be yielding positive results.

      The German brand has long maintained that a diverse range of powertrain technologies is essential. During its annual meeting last week, CEO Oliver Zipse reiterated this mindset. Consequently, BMW will persist in producing and selling petrol, diesel, hybrid, and hydrogen vehicles alongside the numerous new EVs it has planned.

      “We take ambitious political goals seriously – but we don’t believe in excessively narrow regulations that restrict supply,” Zipse stated. “This principle also applies to the circular economy; only a holistic approach can foster and stimulate investment. As it stands, focusing solely on e-mobility is a dead-end – this is becoming increasingly clear. The disparities are simply too significant, even within Europe.”

      Zipse highlighted the cases of Belgium and Italy. In Belgium, significant incentives led to EVs and hybrids achieving a market share exceeding 60% last year, while in Italy, they represented just 4% of sales. He emphasized that the key question is how to effectively reduce CO2 emissions, noting that the solution does not lie in a black-and-white mindset.

      “While other manufacturers are changing direction or modifying their strategies, we are right on track,” Zipse told shareholders. “Even policymakers are beginning to shift: The new German federal government endorses a broad technological approach, while the European Commission aims to enhance Europe’s competitiveness.”

      The demand for BMW’s electrified models is growing. In the first quarter, electrified vehicles accounted for over 25% of all new cars sold by the company, with nearly one-fifth being fully electric. By 2028, BMW plans to launch its first hydrogen production vehicle with assistance from Toyota.