FRANKFURT: BMW intends substantial manufacturing cost cuts from the middle of this decade, among the German carmaker’s board members stated, in an effort to become more aggressive by Volkswagen, Daimler and Tesla.
“We will lower the production costs a car by 25 percent by 2025 – contrasted with the amount in 2019,” Milan Nedeljkovic, BMW’s board member in cost or manufacturing, has been quoted as saying by German newspaper Handelsblatt.
Last month BMW said it stayed on track to satisfy its profit goals for 2021, despite increasing raw material costs, though a worldwide chip deficit will worsen and might hit production from the next quarter.