Automobile
The German manufacturer has announced that it will aim for 7 million electric cars sold by 2030. But it will continue to develop heat engines and sell large, highly profitable SUVs.
BMW also plans to lower its emissions across the entire lifecycle – from suppliers to production and driving – by at least a third by 2030 compared to 2019.
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The car manufacturer BMW unveiled on Monday a long series of targets for reducing CO2 emissions, on which the remuneration of its executive board will now depend in part, and notably targets 7 million electrified cars sold by 2030. “We will respect” strict European emission reduction standards, boss Oliver Zipse promised at a press conference.
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Now in force, European legislation, which asks manufacturers to reduce the average CO2 emissions of their cars sold in the EU, is putting the sector under pressure in an economic context degraded by the coronavirus pandemic. To achieve this, electricity is needed: the Bavarian group wants to sell some 6.5 million additional electrified cars – hybrids and electric – in 10 years, against 500,000 on the roads at the end of 2019.
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However, there is no question of stopping developing heat engines and selling large, very profitable SUVs “as long as there is a market” to allow the fleet to be replaced by more efficient vehicles, according to Oliver Zipse. From a global point of view, the emissions of the cars sold will decrease all the same, he assured, in particular thanks to the hybrid versions.
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Over the entire life cycle
But BMW also expects to lower its emissions over the entire lifecycle – from suppliers to production to driving – by at least a third by 2030 compared to 2019, said Oliver Zipse. . In production, BMW is aiming for an 80% reduction in emissions in 10 years, thanks in particular to green electricity with, through certificates, CO2 neutrality from 2021.
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Achieving emission reduction targets will, in addition to financial performance, be included in the compensation calculation for the group’s management board and senior executives, announced Oliver Zipse, without detailing the extent of this component. For executives, “it will be a significant proportion”, he assured, adding that he cannot comment on his own remuneration, set by the supervisory board. If this strategy requires investment, the goal is that it does not cost more, ”said Oliver Zipse.
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On the sales side, “the markets are moving rather well” after the almost total halt at the height of the coronavirus pandemic. “We had a relatively good June” but “we are going to have a difficult fall” and “it would be naive to think that we will be in November at the level of last year”, detailed the CEO.
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(ATS / NXP)
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