Combustion Engine Vehicles Still Very Important In The Global Market Says BMW CEO

Combustion Engine Vehicles Still Very Important In The Global Market Says BMW CEO

The transition to electric vehicles is happening so rapidly that even brands that have built their reputation on internal combustion engines are making the switch. Some states and countries are planning to outright ban the sale of vehicles with combustion engines but BMW‘s CEO Oliver Zipse thinks that’s a mistake.

Speaking at an event in New York attended by Reuters, Zipse highlighted the limited materials available for use in electric vehicles: “When you look at the technology coming out, the EV push, we must be careful because at the same time, you increase dependency on very few countries.” However, there are other issues to consider as well.

“If someone cannot buy an EV for some reason but needs a car, would you rather propose he continues to drive his old car forever? If you are not selling combustion engines anymore, someone else will,” he continued, and that’s something that must be considered since many customers are not willing (or able) to switch to EVs.

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A potential electric vehicle buyer might be really in love with the idea of owning an EV or even a specific EV model but if they happen to rent their home or apartment they might be without a way to charge a vehicle at home. That can create a hurdle if not stop the search in its tracks altogether. Cost is another major factor.

Right now, there are very few inexpensive all-electric vehicles on the market. Buyers who can’t afford a vehicle that’s $30,000 or more would be without an option if new cars were all that they could consider. On the other hand, combustion cars are easy to find at less than $20,000. With these factors in mind, combustion cars seem to have a place in the market for at least the next few years.

At the same time, some of these issues can be solved during that same timeline. For instance, Chevrolet has committed to helping EV buyers get chargers installed at their homes and plans to be an all-electric brand by 2035, while Ford plans for half of its vehicle sales to be electric by 2030 and has made big investments in charging infrastructure.

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