BMW plans to cut down their production cost by 25%
“We will lower the production costs per vehicle by 25% by 2025 – compared with the level in 2019,” said Milan Nedeljkovic, Board Member in Charge of Production at BMW.
The brand manufactures luxury cars and vehicles and is known for its glamour. The move is most probably to compete better with Volkswagen, Daimler and Tesla when they’re approximately the same range for similar models.
The company managed to strife through the shortage of raw material when there were negligible chips available globally at one point in time. Although experts say that it is quite probable that the adverse effects are seen in the next quarter.