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Factories across the globe are clamouring for investment into next-generation cars as electric vehicles gain traction with consumers and as governments hasten the demise of the combustion engine.

FRANKFURT : BMW on Wednesday said it will retool its German factories to build electric cars and components and shift manufacturing of combustion engines to plants in Austria and England as part of a broader shift toward low-emission cars.

Factories across the globe are clamouring for investment into next-generation cars as electric vehicles gain traction with consumers and as governments hasten the demise of the combustion engine.

Germany on Wednesday unveiled a 3-billion-euro ($3.56 billion) scheme to promote low-emission cars and Britain said it will ban the sale of new petrol and diesel cars and vans from 2030.