Harald Krueger takes the BMW throne as new CEO after a shareholders meeting. The company is in a stiff competition with rival German carmakers such as Audi and Mercedes-Benz.
Under Norbert Reithofer, the outgoing Chief Executive, BMW has invested around USD 2 billion towards the development of carbon- fibre electric and hybrid cars.
Krueger, the 49 year old German who is currently board member for production, played an important role in the expansion by increasing manufacturing. This includes factories in China.
BMW tried to increase production by 30 percent, without increasing labours and production costs. Now, Krueger is in charge to keep up with cars that are growing more complex.
These complex cars are using more carbon-fibre materials instead of steel to keep the weight low and extract more fuel efficiency and performance.
Saving about 100 kilograms in a car's overall weight can result in saving 0.6 litres of gas every 100 kilometers. But carbon-fibre is expensive, costing 16 euros per kilogram, compared to that of steel.