BMW Bets on Electric Future with Milan Nedeljkovic as New CEO

BMW appoints 30-year veteran Milan Nedeljkovic as CEO, succeeding Oliver Zipse, to steer the company through the electric vehicle era. With a focus on growth in China and autonomous driving advancements, Nedeljkovic is tasked with leading the company against Chinese competitors and Tesla's dominance.

BMW is advancing into the electric vehicle future by appointing Milan Nedeljkovic, a 30-year veteran of the company, as the new CEO, replacing Oliver Zipse. This strategic shift comes as the automaker seeks to combat U.S. tariffs, Chinese competition, and Tesla's market presence.

Nedeljkovic, 56, will assume the position on May 14 and is tasked with rejuvenating BMW's sales growth, especially in China, the globe's largest automotive market. "The success of the Nedeljkovic era will be judged in China," commented Moritz Kronenberger, portfolio manager at Union Investment, a BMW shareholder. Emphasizing autonomous driving advancements, the drive towards Level 3 autonomy will be crucial for maintaining competitiveness with Tesla.

Having risen through the ranks since joining BMW in 1993, Nedeljkovic was instrumental in developing the Neue Klasse EV platform, considered BMW's largest leap in investment and technology. As the industry faces challenges, like those encountered by fellow German automaker Porsche, Nedeljkovic's leadership is expected to navigate BMW through transformative times.

(With inputs from agencies.)