COVID-19: BMW aims at preserving the health of its balance sheet

The COVID-19 pandemic is creating chaos across the entire globe, including among automotive businesses. To address the issue, BMW boss Oliver Zipse sat down for an interview with German media to send a message to employees, customers and outsiders.

In the context of the Corona crisis, the Chairman of the Management Board speaks about the enormous challenges of the crisis, but also about the opportunities associated with it. Also, Zipse mentions the willingness of BMW employees to support the company in these difficult times.

Furthermore, the BMW CEO will focus on preserving the health of its balance sheet and workforce. The board meetings are more frequent with several scenarios being prepared. Zipse says that the current action plan is a balancing act between protecting the health of employees and maintaining their ability to act, ensuring their own solvency and preparing as best as possible for the desired restart of production and sales.

For a global company like the BMW Group, one of the special challenges is that the different phases in different regions have to be mastered at different times. Coordinating with the supplier network is another challenge for the company.

For now, the entire German automotive industry is shut down, but everyone expects some good news coming May or the latest June.

[Source: Bimmertoday]

The article COVID-19: BMW aims at preserving the health of its balance sheet appeared first on BMW BLOG