Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 4 (Xinhua)-- BMW Group CEO Chipze said in an interview that the EU's internal combustion engine ban is pushing European automakers into a price war with Chinese competitors, and it is "impossible" for their cheap and economical cars to win, according to a report by the Financial Times today.

The market segment of basic cars faces two outcomes in the future: either disappear or no longer be involved by European carmakers, he added. In addition, Zipze specifically mentioned BYD, pointing out that Chinese car companies such as BYD are transforming into new energy and introducing electric products, and their ambitions are growing with each passing day.

However, Chipze said, "premium carmakers like BMW still have an advantage in the face of competition from Chinese automakers." because the target audience of Chinese car companies is still mainly economy cars. "

When it comes to the price war, Chipze said the company has not been affected by the price war, but has led to a decline in the profit margins of many Chinese car companies. However, he also admitted that Volkswagen has been hit by the rise of competitors because of the fierce competition in the market below $41300 (CTOnews.com). It has been squeezed out of the position of best-selling car in China by BYD.

At the same time, Chipze also attacked the current European electric vehicle facilities, saying that the construction of charging infrastructure in Europe is still far behind expectations, and the raw materials needed to make batteries are not available and promoted slowly.

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