BMW CEO Krueger: EU's 2030 CO2 target is 'dreaming'

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Krueger poses beside a BMW 3 series at the Paris show.

Photo credit: Bloomberg

PARIS — BMW Group CEO Harald Krueger said a higher reduction of CO2 emissions foreseen in Europe is simply unattainable.

“Hoping to reduce CO2 emission by 45 percent by 2030 is dreaming. It is just not possible,” Krueger said Tuesday on the sidelines of the Paris auto show.

European Union lawmakers voted on Wednesday to impose a slightly lower CO2 limit of 40 percent by 2030, stricter than initial proposals of 30 percent — setting the stage for tough talks with national governments this year on the final law.

“To get to a 45 percent CO2 reduction, we would need 70 percent of European sales being battery-powered vehicles, and the power infrastructure simply would not be able to handle it,” Krueger said.

A 30 percent reduction is the “maximum stretch” the industry could manage, he said.

Krueger reconfirmed BMW’s midterm target of 15 percent to 25 percent of BMW sales being electrified vehicles by 2025, a category that for the German automaker includes battery-powered vehicles and plug-in hybrids.

BMW is on target to sell 140,000 electrified vehicles this year, Krueger said.

The automaker reached 100,000 sales through September, the same volume it sold in all of 2017.

BMW currently offers one battery-electric vehicle, the compact i3, and 10 plug-in hybrid models. By 2021, the range of BEVs is expected to grow to five models with the addition of the Mini EV next year, the iX3 SUV in 2020 and the i4 midsize sedan and iNext flagship crossover, both arriving in 2021.

By 2025, BMW’s range of plug-in hybrids will double to 20 models, he said.

In addition, the diesel is here to stay, Krueger said, because in regions such as Europe it is crucial to reaching the CO2 target.

“Our diesel sales in Europe are currently at about 47 percent, and it is hard to predict if they will stabilize to 25 percent or 30 percent,” he said. “But we will definitely continue to invest on diesel.”

BMW diesel sales are growing in markets such as Japan and South Korea, Krueger said, and India also is a diesel market.

You can reach Luca Ciferri at lciferri@crain.com.


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