BMW CEO: the company will not give up the market of low-cost electric vehicles

CTOnews.com, Nov. 10, BMW CEO Oliver Zipse announced today that the company will not abandon the low-cost electric vehicle market when it transitions to electric vehicles.

We know that BMW is a luxury sports car maker, but Oliver Zipse now says BMW is committed to providing cheap electric cars. "We will not leave the low-end market segment," he said. "although we think of ourselves as a high-end carmaker, giving up the low-end market is also the wrong choice, which will be the core of our future business."

But the question is how Zipse defines the "low end of the market". BMW does not launch cars in an "affordable market segment" unless BMW Group's MINI brand is taken into account, whose classic MINI Cooper two-door car sells for less than $30,000.

CTOnews.com learned that Zipse's comments contrasted sharply with the strategy of rival Mercedes-Benz, which said in July that 75 per cent of its investment would be spent on high-end models, as well as the highest-selling "core luxury" C-Class and E-Class models, and that the company would reduce the number of entry-level models.