BMW CEO "Should Not Focus Only on Electric Vehicles... Overly Dependent on China and Others"

Oliver Zipse, BMW Chief Executive Officer (CEO)
[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Oliver Zipse, CEO of the German automobile company BMW, recently expressed concerns that the automotive industry is overly focusing on electric vehicles by relying on supply chains in certain countries, including China.

According to major foreign media on the 14th (local time), CEO Zipse stated at an event held in New York, USA, that China controls most of the raw materials for electric vehicle batteries, saying, "We need to be cautious whenever new technology emerges. At the same time, this means increasing dependence on a very small number of countries."

Amid the automotive industry's recent efforts to secure supply chains for key raw materials such as cobalt, nickel, and lithium?essential for the development of electric vehicle technology?Zipse mentioned China as a critical country. Recently, China’s COVID-19 lockdown measures caused disruptions in the automotive supply chain, especially concerning electric vehicle batteries. CEO Zipse’s warning has thus become a reality.

CEO Zipse said, "If someone cannot buy an electric vehicle for various reasons but still needs a car, would we tell them to drive their old car for life?" He added, "If internal combustion engine vehicles are no longer sold, someone will have to do just that." He argues that it is necessary to sell both electric vehicles and internal combustion engine vehicles, considering both profitability and environmental factors.

While CEO Zipse agrees that phasing out internal combustion engines is the ultimate direction to pursue, he suggests that speed adjustment is necessary given the current lack of consumer purchasing power and related infrastructure. He particularly emphasizes the need to consider the disparity in electric vehicle charging infrastructure and the high price of electric vehicles.

This content was produced with the assistance of AI translation services.