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BMW CEO says the hasty transition to electric vehicles could be a catastrophic mistake for the middle class.
In a world racing headlong towards electrification, Oliver Z, CEO of BMW, provides a tidying brake that left the automobile market jaw dropped.
According to him, betting everything on electrification could end up being a shot in the foot, especially for the middle class. Oliver Z believes that the heart of the issue lies in the possible social impact of accelerated electrification.
According to him, the biggest beneficiaries would be politicians and businesspeople, while the middle class would suffer from the high costs. “Electric vehicles they are not the future and 100% electrification must be stopped at all costs”, said the CEO in a controversial statement.
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The executive also warns of a geopolitical risk associated with dependence on inputs coming mainly from China
“In the event of any geopolitical crisis, we could face bottlenecks in the supply chain, which would increase prices uncontrollably”, points out Oliver Z.
While the wave of electric vehicles gains strength, BMW has already taken significant steps towards other sustainable alternatives, such as use of hydrogen. The company remains faithful to the production of more efficient combustion vehicles, highlighting the importance of diversification in the sector.
A recent study showed that the prices of electric vehicles have increased surprisingly. Currently, the more affordable models, like the Nissan Leaf and the Chev Bolt EV, have already seen their prices soar 45% and 29,3%, respectively.
BMW CEO's final word on electric vehicles
Oliver Z concludes by stating that the consumer must have the right to choose. “The final decision of which car to buy should be in the hands of the consumer, as always was“, he highlights. Therefore, he urges caution and planning in any electrification strategy, to avoid us all being caught by surprise.
With the heated debate over the transition to electric vehicles, the question remains: are we on a path of no return or is there still room for a more balanced approach?
Only time will tell, but one thing is certain: the automobile industry is at a transformative crossroads and any misstep could be costly.
