Oliver Zipse, CEO of BMW Group, criticized the EU's decision to ban the sale of internal combustion engine vehicles by 2035, claiming it could halve automotive business.
At the Automobilwoche Congress, he labeled the decision a "huge mistake," arguing that the industry and market will not be ready for a complete transition to electric vehicles by that deadline.
Zipse emphasized the need for a "soft landing" instead of a sudden shift that could jeopardize automakers and supply chains, citing potential extreme dependencies on certain component suppliers.
He also expressed concern over additional CO2 emissions reduction measures, with the EU mandating a 15% cut next year and a 55% reduction by 2030 from current levels.
However, Zipse does not support delaying these deadlines, asserting that automakers have been warned for years and should be prepared for these standards.
BMW has seen over a 10% increase in electric vehicle sales this year, highlighting its commitment to the future of automotive propulsion, which Zipse identifies as encompassing five technologies: traditional gasoline and diesel, electric vehicles, plug-in hybrids, and hydrogen.
BMW has already invested in hydrogen technology in partnership with Toyota, with Zipse arguing that adapting fuel stations for hydrogen would be less costly than installing electric charging networks.