One more thing. While many car companies doubt electric cars will ultimately represent a large portion of new car sales, BMW (XTER:BMW) is not one of those companies. Two of our research analysts recently visited BMW’s headquarters in Munich, as well as its electric vehicle and carbon fiber assembly plants in Leipzig, Germany, and its battery pack assembly plant and research facility in Dingolfing, Germany. The BMW financial team believes a revolution in drive train is underway. We believe that BMW will likely phase out internal combustion engines over the next 10 years!
From Ron Baron (Trades, Portfolio)’s Q3 2014 Shareholder Letter.
