As far as I'm concerned, it is clear that the concept of premium will be increasingly defined through sustainability in the future. BMW, like no other brand, will still stand for vitality and driving pleasure in the future. But it will also represent efficiency and environmental friendliness.

Politicians in Europe want change. The United States and China will follow this trend. One could see this is a threat, but it's also an opportunity. We at BMW want to take advantage of this and, through innovations, place ourselves at the forefront.

I have told our senior executives that I will slaughter holy cows if it benefits the company's long-term success. When we asked ourselves whether Formula 1 still matched the concept of a sustainable company, the clear answer was no.

Premium will increasingly be defined in terms of sustainability and environmental compatibility

It isn't a given that the companies that provide mobility today will also be the ones to do so tomorrow. Every company has to work hard to make this happen.

In the European Union, a fleet average of 95 grams of CO2 per kilometer will be permitted in 2020. This corresponds to fuel consumption of about four liters (per 100 kilometers; about 59 mpg). We have to continue reducing the fuel consumption of our vehicles and offer hybrid and electric vehicles, or else we will be unable to achieve these values.

One doesn't have to be a large corporation to benefit from the advantages of volume. This can also be achieved through joint ventures.