BMW’s CEO has confirmed the company will not commit to volume production of electric vehicles (EV) until at least 2020, as he believes current technology isn’t profitable enough.
Speaking with industry journal Automotive News Europe, Harald Krueger, CEO for the BMW Group, said: “We wanted to wait for the fifth generation to be much more cost competitive. We do not want to scale up with the fourth generation”.
According to Krueger, the cost advantage between BMW’s fourth- and fifth-generation EVs equates to a “two-digit” percentage.
“If you want to win the race, you must be the most cost competitive in the segment, otherwise you cannot scale up the volume,” he said.
BMW has previously committed to releasing 25 new electrified models by 2025, and recently announced it would be increasing its investment into electromobility to €7 million ($11.19m).
In terms of the BMW i electric sub-brand, the new i4 sedan has also been confirmed as one of the 25 upcoming models, and will draw inspiration from the i Vision Dynamics concept shown at last year’s Frankfurt motor show.
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