BMW aims USD2.4 billion cut in annual purchasing bill to fund electrification

German automaker aims to launch 25 electrified vehicles by 2025

German carmaker BMW aims to reduce annual purchasing costs by EUR2 billion (USD2.4 billion) to fund its shift toward electrification. Markus Duesmann, head of purchasing, told Automotive News last week that the automaker intends to squeeze about 5% from spending on car parts alone, which currently totals around EUR40 billion a year. “The change in the industry that looms large is significant, it's coming and there's no longer the question of when -- it's now,” Duesmann said.