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BMW’s EV Export Plans for China on “Hold”
BMW AG CEO Harald Krueger tells reporters the company can’t decide whether to make China a global hub for electric vehicles until the U.S.-China trade dispute is settled.
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BMW AG CEO Harald Krueger tells reporters the company can’t decide whether to make China a global hub for electric vehicles until the U.S.-China trade dispute is settled.
The company and partner Brilliance Automotive Group Holdings agreed last September to begin building an all-electric version of the BMW X3 small crossover in China. The plan was to export much of the output.
But Krueger says the financial viability of doing so can’t be known as long as President Donald Trump continues to threaten to hike tariffs on $200 billion worth of Chinese goods, including vehicles. Trump says he will raise the levy to 25% from the current 10% if the two countries fail to reach a trade deal in the next several weeks.
BMW tells Reuters the same issue clouds a plan with partner Great Wall Motor Co. to export electric versions of the carmaker’s Mini small car. Peter Schwarzenbauer, who heads the brand, tells Reuters that the EVs could be built instead in England or the Netherlands, which already make piston-powered Minis.
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