By CRM Staff
Toronto, Ontario -- March 28, 2018 -- The BMW Group has announced that it plans to spend more than $10 billion on research and development for electric and autonomous vehicles – more than its entire operational budget last year. The company also suggested that repair facilities must start gearing-up for the onslaught of new technology.
"The biggest model offensive in our history is currently in full swing. We are now in phase two. We will be releasing another 20 new and revised models this year," BMW chairman Harald Kruger told investors during a meeting.
According to CNBC, BMW has a development campus outside Munich working entirely on AV technological development, with staff currently occupied on a 100-million-euros battery-cell research initiative.
Kruger noted in his speech that diesel technology is still a viable technology, stating, “Our modern diesels will also play a role on the road to sustainable mobility.”
According to CNBC, diesel car sales are seeing a reduction in many parts of the world, and Kruger has made past claims such as, “The future is electric.”
For more information on BMW, please visit bmw.ca.