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BMW’s next CEO could revive an electric car initiative amid assault from EVs like Tesla
BMW CEO Harald Krueger is leaving his post as the German automaker’s chief executive. In an update on Friday, the company announced that Krueger would not be seeking another term in his contract as CEO after it expires next year. A press release from BMW noted that the Supervisory Board will be discussing Krueger’s replacement during a meeting on July 18, though a report from the Frankfurter Allgemeine newspaper, citing people from within the company, claimed that production chief Oliver Zipse is the frontrunner to take over the CEO role.
This would likely translate to a potential revival, or at least an acceleration, of BMW’s push into electric mobility. Krueger has received a fair amount of skepticism over his leadership of BMW over the past years, particularly due to the company losing ground in the luxury segment to its main rival, Daimler’s Mercedes-Benz, according to the Associated Press. BMW has also been left out in the premium electric vehicle market, which is currently being dominated by Silicon Valley-based Tesla and increasingly populated by veteran carmakers like Audi and Jaguar. This was unfortunate, as BMW, at one point, actually had a lead in EVs.
Prior to Krueger’s appointment as CEO, BMW had launched the i3, a curiously-designed battery electric car that was considered as an alternative, or even a competitor, to the Tesla Model S. Under Krueger’s leadership, BMW shifted away from all-electric vehicles, focusing instead on plug-in hybrids, which combine an internal combustion engine and an electric motor. This strategy ultimately resulted in BMW losing the lead that it established with the i3. Today, the company’s next expected EV, the iX3, has been beaten to the market by the Jaguar I-PACE, the Audi-e-tron, and even the Porsche Taycan, which is set for release later this year.
Leading up to Friday’s announcement about Krueger’s departure, BMW insiders have mentioned to German news agency Handelsblatt that the company is considering two candidates who could take over the CEO post: the ambitious Head of Development Klaus Fröhlich and the more tempered Oliver Zipse, who took over BMW’s production department from Krueger back in 2015. Fröhlich is more aggressive than the head of production, but he is also a staunch electric car critic. Back in October, for example, Fröhlich committed to diesel, arguing that ongoing discussions about electromobility are “a little bit irrational.”
Fröhlich’s more recent comments showed an even more dismissive stance on electric cars. In a round table interview in Munich, the BMW executive argued that “there is no customer requests for BEVs.” Doubling down, he added that “If we have a big offer, a big incentive, we could flood Europe and sell a million cars, but Europeans won’t buy these things. Customers in Europe do not buy EVs. We pressed these cars into the market, and they’re not wanted. We can deliver an electrified vehicle to each person, but they will not buy them.”
Zipse, provided that he does get named as CEO, would have a lot of responsibilities on his shoulders. BMW is currently facing headwinds, including a “hiring freeze” and stagnating sales. The company has also issued two profit warnings over the past nine months, suggesting that it will take much effort to turn the automaker around. Rivals Volkswagen and Daimler have already gone ahead with their electric cars such as the ID.3, Audi e-tron, Porsche Taycan, and the Mercedes-Benz EQC. Tesla still holds a notable lead in key metrics such as batteries, efficiency, and charging infrastructure, but with a new captain at the helm, perhaps BMW can start catching up to the Silicon Valley-based electric car maker as well. If there’s anything that Tesla has proven over the years, after all, it is that the demand for well-designed, high-performance electric vehicles is notable, as could be seen in the disruption being caused by the Model 3 in markets such as the United States.
News
Tesla Semi expands pilot program to Texas logistics firm: here’s what they said
Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.
Tesla has expanded its Semi pilot program to a new region, as it has made it to Texas to be tested by logistics from Mone Transport. With the Semi entering production this year, Tesla is getting even more valuable data regarding the vehicle and its efficiency, which will help companies cut expenditures.
Mone Transport operates in Texas and on the Southern border, and it specializes in cross-border U.S.-Mexico freight operations. After completing some rigorous testing, Mone shared public results, which stand out when compared to efficiency metrics offered by diesel vehicles.
“Mone Transport recently had the opportunity to put the Tesla Semi to the test, and we’re thrilled with the results! Over 4,700 miles of operations at 1.64 kWh/mile in our Texas operation. We’re committed to providing zero-emission transportation to our customers!” the company said in a post on X.
🚨 Mone Transport just recorded an extremely impressive Tesla Semi test:
1.64 kWh per mile over 4,700 miles! https://t.co/xwS2dDeomP pic.twitter.com/oLZHoQgXsu
— TESLARATI (@Teslarati) March 10, 2026
Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.
Comparable Class 8 diesel semis, typically achieving 6-7 miles per gallon, consume roughly 5.5 kWh per mile in energy-equivalent terms, meaning the Semi uses three to four times less energy while also producing zero tailpipe emissions.
Tesla Semi undergoes major redesign as dedicated factory preps for deliveries
The performance of the Tesla Semi in Mone Transport’s testing aligns with data from other participants in the pilot program. ArcBest’s ABF Freight Division logged 4,494 miles over three weeks in 2025, averaging 1.55 kWh per mile across varied routes, including a grueling 7,200-foot Donner Pass climb. The truck “generally matched the performance of its diesel counterparts,” the carrier said.
PepsiCo, which operates the largest known Semi fleet, recorded 1.7 kWh per mile in North American Council for Freight Efficiency testing. Additional pilots showed similar gains: DHL hit 1.72 kWh per mile, and Saia achieved 1.73 kWh per mile.
These metrics underscore the Semi’s ability to slash operating costs through superior efficiency, lower maintenance, and zero-emission operation. As charging infrastructure scales and production ramps toward 2026 targets, participants like Mone Transport are proving electric semis can seamlessly integrate into freight networks, accelerating the industry’s shift to sustainable, high-performance trucking.
Tesla continues to prep for a more widespread presence of the Semi in the coming months as it recently launched the first public Semi Megacharger site in Los Angeles. It is working on building out infrastructure for regional runs on the West Coast initially, with plans to expand this to the other end of the country in the coming years.
Elon Musk
SpaceX weighs Nasdaq listing as company explores early index entry: report
The company is reportedly seeking early inclusion in the Nasdaq-100 index.
Elon Musk’s SpaceX is reportedly leaning toward listing its shares on the Nasdaq for a potential initial public offering (IPO) that could become the largest in history.
As per a recent report, the company is reportedly seeking early inclusion in the Nasdaq-100 index. The update was reported by Reuters, citing people familiar with the matter.
According to the publication, SpaceX is considering Nasdaq as the venue for its eventual IPO, though the New York Stock Exchange is also competing for the listing. Neither exchange has reportedly been informed of a final decision.
Reuters has previously reported that SpaceX could pursue an IPO as early as June, though the company’s plans could still change.
One of the publication’s sources also suggested that SpaceX is targeting a valuation of about $1.75 trillion for its IPO. At that level, the company would rank among the largest publicly traded firms in the United States by market capitalization.
Nasdaq has proposed a rule change that could accelerate the inclusion of newly listed megacap companies into the Nasdaq-100 index.
Under the proposed “Fast Entry” rule, a newly listed company could qualify for the index in less than a month if its market capitalization ranks among the top 40 companies already included in the Nasdaq-100.
If SpaceX is successful in achieving its target valuation of $1.75 trillion, it would become the sixth-largest company by market value in the United States, at least based on recent share prices.
Newly listed companies typically have to wait up to a year before becoming eligible for major indexes such as the Nasdaq-100 or S&P 500.
Inclusion in a major index can significantly broaden a company’s shareholder base because many institutional investors purchase shares through index-tracking funds.
According to Reuters, Nasdaq’s proposed fast-track rule is partly intended to attract highly valued private companies such as SpaceX, OpenAI, and Anthropic to list on the exchange.
Elon Musk
The Boring Company’s Prufrock-2 emerges after completing new Vegas Loop tunnel
The new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The Boring Company announced that its Prufrock-2 tunnel boring machine (TBM) has completed another Vegas Loop tunnel in Las Vegas. The company shared the update in a post on social media platform X.
According to The Boring Company’s post, the new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The new tunnel marks the fourth tunnel constructed near Westgate Las Vegas as the Vegas Loop network continues expanding across the city.
The Boring Company also noted that the new tunnel surpassed its previous internal record of 2.26 miles for a single Vegas Loop segment.
Construction of the tunnel involved moving roughly 68,000 cubic yards of dirt. The excavation process also used about 4.8 miles of continuous conveyor belt, powered by six motors totaling 825 horsepower.
The Boring Company’s Prufrock-series all-electric tunnel boring machines are designed to support the rapid expansion of company’s underground transportation projects, including the growing Vegas Loop network. Prufrock machines are designed for reusability, thanks in no small part to their capability to be deployed and retrieved easily through their “porposing” feature.
The Vegas Loop, specifically the Las Vegas Convention Center (LVCC) Loop segment, has already been used during major events. Most recently, the LVCC Loop supported the 2026 CONEXPO-CON/AGG construction trade show, which was held from March 3-7, 2026.
As per The Boring Company, the LVCC Loop transported roughly 82,000 passengers across the convention center campus during the event’s duration.
CONEXPO-CON/AGG is one of the largest construction trade shows in North America, drawing more than 140,000 construction professionals from 128 countries this year.
The LVCC Loop forms the initial segment of the broader Vegas Loop network, which remains under active development as The Boring Company continues building new tunnels throughout the city.
Tesla Semi expands pilot program to Texas logistics firm: here’s what they said
SpaceX weighs Nasdaq listing as company explores early index entry: report
