Summary List Placement
BMW’s chief finance officer said the German carmaker was not concerned with the prospect of Apple launching a rival electric vehicle.
“I sleep very peacefully,” Nicolas Peter told Bloomberg when asked about Apple’s rumored plans.
“Competition is a wonderful thing – it helps motivate the others,” Peter told Bloomberg.
“We’re in a very strong position and we want to remain in a leading position of the industry,” Peter added.
His comments echo those made less than a month ago by Volkswagen CEO Herbert Diess, who said his company was “not afraid” of Apple’s car plans.
“The car industry is not a typical tech sector that you could take over at a single stroke,” Diess told the Frankfurter Allgemeine Sonntagszeitung. “Apple will not manage that overnight.”
Apple’s talks to collaborate with South Korean Hyundai and Kia on the car were put on hold after news leaked of the potential partnership, Bloomberg reported. The companies had planned to sign a deal by March that would lead to a “beta” version of an Apple electric vehicle as early as 2022, local media reported, though Hyundai execs were said to be wary of the partnership.
Apple also approached Japanese carmaker Nissan about making an autonomous vehicle together, but the talks collapsed after they clashed over branding, sources told The Financial Times.
Electric-car startup Fisker, meanwhile, announced in February it would work with Apple supplier Foxconn to produce more than 250,000 vehicles a year, beginning in late 2023.
Peter also told Bloomberg that BMW had no set plans to stop manufacturing combustion-engine cars.
“We need to be in a position to move with the market,” Peter said. “There are announcements coming left, right and center, and I think the important thing is being able to react to customer demand.”
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