BMW Chief Executive Officer Oliver Zipse said companies must be careful not to become too dependent on a select few countries by focusing only on electric vehicles, adding that there was still a market for combustion engine cars.
“When you look at the technology coming out, the EV push, we must be careful because at the same time, you increase dependency on very few countries,” Zipse said at a roundtable in New York, highlighting that the supply of raw materials for batteries was controlled mostly by China.
“If someone cannot buy an EV for some reason but needs a car, would you rather propose he continues to drive his old car forever? If you are not selling combustion engines anymore, someone else will,” said Zipse.
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