RBA Expected to Hold Interest Rates at 4.35% as Markets Watch AUD/USD and ASX 200 
Asian Currencies Steady as BOJ Raises Rates and Markets Await Fed Decision 
Global Motor Oil and Auto Paint Shortages Persist Despite Potential U.S.-Iran Peace Deal 
Wall Street Surges as US-Iran Deal Eases Oil Price and Inflation Concerns 
SpaceX Surpasses Amazon in Market Value as Post-IPO Rally Accelerates 
DOJ Clears Paramount Skydance-Warner Bros. Discovery Merger Without Conditions 
Woodside Energy Denies Exxon Mobil Takeover Talks Amid LNG Growth Focus 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
Gold Prices Surge Above $4,300 as US-Iran Peace Deal Weakens Dollar and Oil 
Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening 
BOJ Raises Interest Rates to 31-Year High, Signals Strong Focus on Inflation Risks 
Elon Musk Becomes World's First Trillionaire After SpaceX IPO Surge 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
U.S. Gasoline Prices Fall Below $4 as U.S.-Iran Deal Eases Oil Market Concerns 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Anthropic Officials Meet White House Over AI Model Outage 
BMW is reportedly planning to cut production costs by as much as 25% per vehicle unit. The German carmaker’s goal is to impose the reductions by the year 2025.
BMW making a move to compete with other leading carmakers
As per Reuters, it was one of BMW’s board members who revealed this information to the public. The company is making this move in a bid to be more competitive with other leading car brands, including Volkswagen, Tesla and Daimler.
"We will lower the production costs per vehicle by 25% by 2025 - compared with the level in 2019," BMW’s board member who is in charge of production, Milan Nedeljkovic, reportedly told Handelsblatt, a German newspaper.
The luxury car manufacturer sticks to its normal course to reach its target revenue amount for 2021 despite the rising costs of raw material. In addition, it followed the same route it has always taken to meet its goal amount amid the worsening global chip shortage, but now, it may change its course to cope with the increasing production costs.
To elevate the problem and avoid big losses due to the chip shortage and expensive raw materials, BMW may slash its production cost. Thus, in the next four years, the cuts may become more evident.
BMW starts tests for hydrogen fuel cell electric vehicles
Meanwhile, BMW is launching its hydrogen fuel-cell electric vehicle (FCEV) drivetrain in Europe and ahead of its introduction to the market, the testing for it has already started. The company is planning to roll out this new model based on the current BMW X5 in 2022.
First Post notest that BMW’s tests are centered on fine-tuning the software that controls the new vehicle’s parts in its FCEV’s propulsion system. It was added that at this point, BMW already finished hundreds of tests on the fuel cell system, performance buffer battery, hydrogen tanks and the car’s central vehicle control unit.
The unit is called the BMW’s i Hydrogen Next and it can produce 172 hp of electrical power from the fuel cells. Finally, the company is still looking to further improve the car before it is released to the market, so it is continuing its research before going into full production.
