European car manufacturers are being forced into a price war with Chinese companies as the EU pushes ahead with plans to ban combustion engines, the boss of BMW has warned.
BMW chief executive Oliver Zipse has said he considered China entering the European market as an “imminent risk” after the development of its electric car market over the last 15 years enveloped much of the world’s battery supply chains.
He said that companies like BMW will likely be shielded from competition from China’s manufacturers, which will target buyers of cheaper vehicles.
Speaking ahead of the annual IAA Mobility conference in Munich, Mr Zipse said: “The base car market segment will either vanish or will not be done by European manufacturers.”
It comes after BYD, China’s biggest electric carmaker, declared war on Western rivals by calling on the country’s auto manufacturers to unite and “demolish” their competition.
In February, the European Parliament voted to approve a new law banning the sale of petrol and diesel cars from 2035. In Britain, the Government plans to ban the sale of new cars powered solely by petrol and diesel from 2030.
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2023-09-04 07:49:30Z
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