May 6, 2020 / 8:11 AM / 23 days ago

BMW to delay Hungary plant in coronavirus savings drive

FRANKFURT, May 6 (Reuters) - BMW will put investments on hold as it seeks to conserve cash to counter a fall in demand caused by the spread of the coronavirus pandemic, Chief Financial Officer Nicolas Peter said on Wednesday.

“In light of the current situation, we will be delaying a number of projects, like the plant in Hungary. Other projects will be carefully reconsidered,” Peter said on a call to discuss first quarter earnings. (Reporting by Edward Taylor Editing by Riham Alkousaa)

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