BMW has big plans in China

BMW has big plans in China


Eindeed it would be Oliver Zipse will present quarterly figures for the BMW Group in a conference call this Thursday. But the CEO of the Munich carmaker, which earned 4.1 billion euros before tax in three months, left this part of his job to his CFO Nicolas Peter. Zipse himself ventured into more difficult terrain. He is currently accompanying Chancellor Olaf Scholz on his controversial trip to Chinese President Xi Jinping.

Now the policy of neither Germany nor Europe in China is not defined. For bmw “As a global company” with 31 locations in 15 countries, on the other hand, things seem clear, as a company spokesperson said: “We need a dialogue.” That is why Zipse accepted the Chancellor’s invitation.

Sharing is not surprising. After all, Zipse’s colleague at Volkswagen Oliver Blume flies alongside the heads of Adidas, BASF, Bayer, Merck and Siemens. No industry is so dependent on it China like the German car industry. BMW sells a third of its cars there. And if the board has its way, it should be more, especially since economic prospects in the People’s Republic are better than in Europe.

“We are not pessimistic about the development of the market in China,” CFO Peter said. And that, although because of Xi Jinpings Due to the strict corona policy, 10 percent of BMW dealers are currently closed. China is the driver of electric mobility, and BMW will sell more than half of all its electric cars here in 2030, Peter said.