Citing EV 'Rollercoaster' In US, BMW Invests In Internal Combustion

An anonymous reader quotes a report from the Financial Times: BMW has pledged to continue investing in combustion engine and hybrid technology as it warned of a 'rollercoaster ride' in the US transition to electric vehicles following the return of Donald Trump as president. Board member Jochen Goller said the group remained optimistic about sales of petrol and plug-in hybrids in the US even if demand for EVs slowed over the next few years on the back of policy changes under the new administration.

'I think it would be naive to believe that the move towards electrification is a one-way road. It will be a rollercoaster ride,' Goller, who is in charge of customer, brands, and sales, told the Financial Times at BMW's headquarters in Munich. 'This is why we are investing in our combustion engines,' he said. 'We are investing in modern plug-in hybrids. And we will continue rolling out electric cars.' BMW faces significant challenges in the Chinese market, with a 13% decline in sales amid intensifying price competition and growing dominance of domestic brands. Analysts note that while the company still sees China as a growing market, pricing pressures and an overcrowded automotive sector pose ongoing risks to BMW's long-term positioning.

It'll likely become even more difficult for BMW and other automotive companies to gain market share in the Chinese market with BYD's latest announcement. The Chinese automaker said it will be offering its advanced 'God's Eye' autonomous technology in mass-market EVs like the $9,500 Seagull, while expanding globally with government-based EV initiatives.

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