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BMW CEO: working to safeguard liquidity during coronavirus crisis - Metro US

BMW CEO: working to safeguard liquidity during coronavirus crisis

Frankfurt hosts the international Motor Show (IAA)

FRANKFURT (Reuters) – BMW <BMWG.DE> Chief Executive Oliver Zipse said the carmaker is focussing on preserving the health of its balance sheet and workforce which have come under strain during the coronavirus crisis.

“No company can possibly get through something like this unscathed. Guaranteeing our liquidity needs to happen very quickly. The Management Board are currently meeting twice as often as normal, so we can make the necessary decisions,” Zipse said in a statement on Friday.

“We are preparing to ramp up production as soon as the time is right in full compliance with all the safety aspects, and with international coordination. It’s essential that we synchronise with the supplier network on this,” Zipse said.

(Reporting by Edward Taylor; editing by Thomas Seythal)

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