Reithofer

In late August 2007, on a routine swing through the U. S. , Reithofer met for a light lunch with a half dozen of BMW's top American dealers.

Mr. Reithofer said BMW is always interested in cooperation with other auto makers but said BMW is 'strong enough to survive on its own.

Dr. Norbert Reithofer, chairman of the BMW board, said that the decision was made after a refining of the company's future strategy.

Reithofer's challenge is to secure a place for BMW in this new world without sacrificing its status as a rarefied drive for the open road.

'We managed to generate a positive free cash flow of 516 million for the first half of the year, ' Mr. Reithofer said.

"That was a very turbulent board meeting, " Mr. Reithofer recalled.

Reithofer could have been forgiven for ignoring the warning.

Ulrich Reithofer combines gold and glass shards in a necklace (pictured below).

Although Reithofer is vague on the timing, BMW is working on the electric vehicle under an initiative called Project i.

"If you can't build in a place, then you can't innovate there either, " Mr. Reithofer said.

"We can bring these vehicles to market for a reasonable price, " Reithofer says.

Reithofer also announced that additionalhybrid models, including a hybrid 3 Series, would probablyfollow.