CEO Harald Krueger expects China to define electric car policy

BMW CEO Harald Krueger said he anticipated Chinese officials to soon clarify the size of a proposed quota for electric vehicles as the German automaker upgrades its production system to make more zero-emission automobiles.

“The regulations have not yet been finalized. We will respond accordingly. We anticipate clarity in the next weeks rather than months,” Krueger informed reporters at the company’s yearly results news conference on Tuesday.

China has been going over introducing a quota of having new energy vehicles (NEV) compromise 8 percent of sales, which has been met with stiff resistance from vehicle makers.

Independently, Krueger stated he had useful conversations with U.S. President Donald Trump where he explained the significance of open market so that the United States BMW factory in Spartanburg could still export 70 percent of its vehicles.