Statement by Harald Kruger on 5-17-2018

daily lives, but can also be a tremendous source of pleasure. At the BMW Group, we have 130,000 men and women full of energy and passion working daily in developing mobility.
addressing you, our employees. You are what make the BMW Group so strong and unique. I would like to take this opportunity to say thank you to all of you: Together, we ensure this companys continued success. That is our obligation towards our shareholders.
those joining us via internet to the 98th Annual General Meeting of BMW AG!
years.
master major changes in the past and to take on those to come. We have the strength and confidence to see us through the current transformation. Our premium aspiration is to be at the forefront. With the biggest model offensive in our history, we are issuing a challenge to our competitors. We are the number one in electrified vehicles in Europe and Germany. All our brands and model series are going electric. That shows our consistency. Thats the future.
company in the world.
our shareholders, should share in this success.
per share of common stock and 4.02 euros per share of preferred stock. Our employees in Germany will also benefit through our profit-sharing programme.
we face the challenges ahead together. That is our culture.
commercial success cannot be taken for granted especially over the long term.
strong regulation, although individual mobility will remain a very popular mode of transportation.
manufacturers has damaged our industry as a whole.
versions of the BMW 5 Series and 7 Series, which were fitted with an engine control software we believe had been correctly developed. These models were later fitted with a software module not designed for them.
either of engine control or exhaust gas treatment.
provide a corrected software. A maximum of 11,700 vehicles are affected. To put that into perspective: In the last five years alone, the BMW Group delivered more than 11 million cars to customers.
treatment concept which proved very successful: Our Euro 5 and Euro 6 diesels in Germany are around 40 percent below the average NOx figures published by the German Environment Agency.
investigating the NOx emissions of Euro 6 diesel models, BMW and MINI models performed very well. The BMW 520d and 530d were much lower than the future limits for road driving tests.
adopted at the National Diesel Summit. This means that our Euro 5 diesel models from 2011 or later will get a software update. But, we will also speak out if something is not technically viable: upgrading hardware.
handling allegations of unlawful cartel arrangements. The European Commission has not yet completed its evaluation in this matter.
ONE > NEXT, which provides us with a strategic roadmap up to 2025, with three main priority areas: Electrification, Being Global, and Products and services.
constantly rising.
electrified vehicles worldwide, and almost 80 percent more in the US. Thats all I want to say about our figures.
personal level: In December 2017, I handed over our 100,000th electrified vehicle at BMW Welt: a BMW i3. I admit, I expected the customer to be a young person who was already familiar with electric driving. But, it was actually an 80-year-old gentleman, standing in front of me with a big smile on his face. He had spent his whole life driving rival models with a combustion engine. I think this demonstrates: It is never too late to switch to BMW and our electric models.
Four-Cylinder, as a battery. I watched from the Olympic Park, with a group of employees, and it really was an emotional moment.
is BMW.
models and plug-in hybrids on the roads. We have already a quarter of a million today.
i4 and the BMW iNEXT.
Show.
Now, the letter i is coming to our core BMW brand. Going forward, all pure electric BMW models will sport the i badge and come equipped with fifth-generation battery technology. With an increased range of about 700 kilometres, electric models will become entirely practical for everyday use.
glimpse. And I can reveal that we will be presenting the iNEXT as a vision vehicle later this year.
will benefit the entire company and all its brands. For the first time, we are combining all key technologies for future mobility. The iNEXT is fully electric, fully connected, and enables safe, partially autonomous driving. Further models will follow.
Munich, which we announced in 2017 and opened in April of this year. Once again promised and delivered. That is BMW.
agile working. 1,800 experts from different countries work together there.
we will build them here as well: the i4 in Munich, and the iNEXT in Dingolfing.
innovations and Industry 4.0. We produce more than half our vehicles abroad. But nearly 70 percent of our employees are still based in Germany. For me, that shows our strong commitment to our roots. These roots give us stability in a global world.
are enabling our plants for a wide range of drive trains, using flexible architectures. From 2020, we will be able to fit all model series with any type of drive train.
worldwide. Not many manufacturers can say the same.
and culture.
emissions, which we will continue to comply with. The BMW Group benefits from the European single market and remains committed to Europe. The EU has to be competitive to play an appropriate role in the world.
Particularly in the areas of connectivity and autonomous driving, we need consistent legal rules and a 5G standard throughout the European Union. On the topic of e-mobility: Europe needs to take on a leading role. We need to create an internal European market in digital infrastructure and e-mobility.
important to Europe. However, the UK must also remain close to the EU. We will start building the first fully electric MINI in Oxford in 2019. It is therefore important that access to the EU internal market remains uncomplicated and customs free. We are once again targeting a slight increase in European sales this year.
e-mobility and digitalisation. We are targeting solid growth in our largest single market in 2018. After all, BMW is the most attractive, most innovative premium brand in China.
see a million new electrified vehicles registered in China this year alone. Our customers in China already have six electrified models to choose from. With ChargeNow they also have access to the worlds largest network of public charging points.
BMW X3 will be built in Shenyang, in addition to the US and South Africa. From 2020, we will also be producing the iX3 there, the first all-electric model from our core BMW brand.
at producing fully electric MINI vehicles in China.
and to further open up its car market, showing good sense and vision in the midst of the current trade dispute.
be made, both in trade policy and domestically. With regard to the upcoming review of fuel consumption regulations at federal level, we are strongly in favour of a consistent national standard.
years. We contribute greatly to the U.S. economy. In terms of value, BMW is the largest vehicle exporter in the US, responsible for around 70,000 direct and indirect jobs across the country. We are targeting slight growth in the US market in 2018. Spartanburg, home to our biggest plant, will benefit from a further 600 million euros in investment up to 2021.
next year. Mexico has relied heavily on free trade in the past and benefited as a result. Our plant in San Luis Potos will produce for the global market.
successful. Free trade leads to growth and prosperity for everyone. Thats a fact.
level: for jobs, value creation and the broader community.
20 new and revised models for release this year. Two highly emotional vehicles are here next to the stage: The BMW i8 Roadster and the BMW Z4 concept car.
highly profitable luxury segment include the new Phantom and the Cullinan at Rolls-Royce.
this year. The new 8 Series range will feature at least six models, including the BMW M8 Gran Coup, which showcases the new BMW design language. The new BMW X7, which will go into production towards the end of the year, is also resonating with its strong presence.
successor to the X5.
services.
year. By 2025, we will expand this base to 100 million active users, offering customers an all-round, all-inclusive package.
international provider of digital parking solutions.
our expertise in mobility services on an equal footing. This is subject to approval by antitrust authorities.
the EU invest more than a billion euros in mobility every year.
2040, most of that still relying on cars.
when you consider that the worlds biggest car manufacturers reported their highest-ever revenues in 2017.
play an important role in the economy and society at large: as an employer, as a taxpayer and as a driver of innovation.
sustainable, digitalised mobility. Mastering that challenge is the central task facing the German automotive industry and nothing else.
little guys. But, with absolute certainty, those who prevail are always flexible.
have been many challenges but the BMW Group has always followed its own clear path, with innovation, determination and consistency.
more than 100 years.
approach: Between May 2008 and May 2018, its value increased by over 140 percent. Even during the current transformation, Your Company remains profitable. We have maintained an EBIT margin of between eight to ten percent in the Automotive Segment for the past eight years. This allows us to invest in our future.
support we need. We can count on you and you can rely on the BMW Group, your company. Thank you for your attention!
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