BMW’s Zipse: we are not leaving lower segment for electric cars

This post was originally published on this site

“We are not leaving the lower market segment. Even if you consider yourself a premium manufacturer, it is wrong to leave the lower market segment – that will be the core of your business in the future,” Zipse said, speaking at an event organised by autos supplier Robert Bosch GmbH in Berlin.

His comments contrast with the strategy of rival Mercedes-Benz, which said in July it was dedicating 75% of its investments to top-end vehicles and its highest-selling segment of “core luxury” C-Class and E-Class models while cutting the number of entry-level models.

BMW’s chief financial officer warned last week that although sales of fully electric vehicles were expected to double this year from 2021 levels, the company expected rising inflation and interest rates to weigh on incoming orders, particularly in Europe.