During a recent interview with CNBC.com , mutual fund manager Ron Baron of Baron Capital revealed that two of his analysts recently visited BMW in Germany and the BMW financial team believes that a “revolution in the drive train is underway.”
“We believe that BMW will likely phase out internal combustion engines over the next 10 years,”
Baron wrote in his most recent quarterly letter to shareholders of his funds.
Almost exactly 12 months ago, BMW product chief Herbert Diess told Autocar “all BMW models will soon need to be sold with some form of electrification.” BMW’s head of production for large vehicles, Peter Wolf, told motoring.com.au. “We are planning to have a plug-in hybrid in each and every model series.”
With global auto sales heading towards 100 Million a year, Baron believes that in 15 years time Tesla could be selling 10 Million vehicles a year.