Geneva International Motor Show: Car companies race to diversify from petrol to electric power

The multi-trillion-dollar car business is changing at high speed. On this special episode of The Exchange, we visit the Geneva International Motor Show in Qatar, where leaders from Toyota, Kia and BMW report on the race from petrol to electric power.

The Exchange met with the world's leading car brands as they converged in Qatar to decide the future of the sector.

Industries don't come much bigger than the car business. According to industry analysts, IBISWorld, the global auto industry is valued at over $4 trillion.

The sector is so large, in fact, that in Europe, 7% of all jobs are linked to cars. Manufacturers are busy making the massive changes required to play their part in the fight against climate change. 

Researchers are predicting a huge rise in demand for electric vehicles, with 14 million units expected to be sold by the end of 2023.

The Exchange caught up with the world's biggest-selling car maker, Toyota, and the current number one auto brand, according to Consumer Reports, BMW, to understand the future vision of their brands.

"Technology and innovation are at the heart of Toyota," revealed Yazan Mustafa, the Senior Dealership Director for Toyota in the Middle East.

"Toyota today is following a multi-path strategy where they are investing in multiple technologies such as the electric, the fuel cell, the hybrid and the petrol engines and the combustion engine. So all these technologies are mixing up to shape the future of the automotive industry."

"Two topics are really important for us," said Dr Matthias Hartel, the Director of Sales & Marketing at BMW for the Middle East. "First of all, we are very much closely listening to the trends and what's happening around the world, and we see that sustainability is one of