BMW ready for any ban on fossil fuel-burning cars from 2030, CEO says

Stock Markets5 minutes ago (Oct 14, 2021 04:45AM ET)

(C) Reuters. FILE PHOTO: BMW German luxury carmaker new CEO Oliver Zipse, speaks at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. September 10, 2019. REUTERS/Wolfgang Rattay/File Photo

NUERTINGEN, GERMANY (Reuters) – Germany’s BMW will be ready for any ban on internal combustion engine (ICE (NYSE:ICE)) cars from 2030 onwards with an offering of electric vehicles, Chief Executive Officer Oliver Zipse said on Tuesday.

The EU has proposed an effective ban on fossil fuel cars from 2035 as part of a broader package of measures to combat global warming.

“We will be ICE-ban ready. If a region, a city, a country gets the idea of banning ICEs, we have an offering,” Zipse told a conference in the town of Nuertingen, near Stuttgart.

“The BMW Group is not worried about this. Whether it’s a good idea is another question… but we will have an offering.”

Unlike rivals including Volkswagen (DE:VOWG_p) and General Motors (NYSE:GM), BMW has not set an end date for production of ICE cars.

However, it has said it expects 50% of global car sales to be electric vehicles by 2030.

BMW ready for any ban on fossil fuel-burning cars from 2030, CEO says

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

More from author

Subscribe

Related posts

Latest posts

Michigan judge tosses GM lawsuit against Fiat Chrysler

Stock Markets23 minutes ago (Oct 17, 2021 05:20PM ET) (C) Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General...

Gangs expand territory as Haiti government struggles to stay in control

World40 minutes ago (Oct 17, 2021 03:50PM ET) (C) Reuters. FILE PHOTO: A general view of buildings in Port-au-Prince, is seen from the outskirts of...

A Sinister Six Movie Should Copy Spider-Man: No Way Home & Bring In Miles

Sony's upcoming Sinister Six movie should take some inspiration from Spider-Man: No Way Home and introduce a new version of Miles Morales. Sony has...

Categories

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!