{"id":109759,"title":"BMW’s chief states that the net zero mandate on gasoline vehicles is intensifying price competition in China.","publisher":"Share Talk","author":"sharetalk","published":"2023-09-04T07:11:49+00:00","modified":"2023-09-04T07:11:49+00:00","canonical_url":"https://www.share-talk.com/bmws-chief-states-that-the-net-zero-mandate-on-gasoline-vehicles-is-intensifying-price-competition-in-china/","markdown_url":"https://www.share-talk.com/bmws-chief-states-that-the-net-zero-mandate-on-gasoline-vehicles-is-intensifying-price-competition-in-china.md","json_url":"https://www.share-talk.com/bmws-chief-states-that-the-net-zero-mandate-on-gasoline-vehicles-is-intensifying-price-competition-in-china.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["BMW","china","combustion engines","EU","European Parliament","gasoline vehicles"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"“As the EU progresses with its plans to prohibit combustion engines, European automakers are finding themselves in a pricing battle with Chinese counterparts,” warns the BMW head.\n\nOliver Zipse, BMW’s CEO, sees China’s foray into the European market as a looming threat, especially given China’s vast hold on global battery supply chains due to their electric vehicle industry growth over the past 15 years.\n\nWhile Zipse believes brands like BMW might remain insulated from such competition since Chinese manufacturers will likely focus on more affordable vehicle segments, he mentioned to the Financial Times: “The primary car market segment might either disappear or no longer be dominated by European producers.”\n\nEarlier in February, the European Parliament gave the green light to legislation that will outlaw the sale of petrol and diesel cars by 2035.\n\nBMW has showcased its upcoming electric vehicle model – the Vision Neue Klasse concept – which is featured at the IAA exhibition in Munich this week."}