The EU’s pledge to ban the sale of new gasoline and diesel cars and vans from 2035 poses an “imminent risk” to Europe’s car manufacturers, which are unlikely to win a looming EV price war with their Chinese competitors, BMW chairman Oliver Zipse has told the Financial Times.

“I want to send a message: I see that as an imminent risk,” Zipse said.

Yet, “The base car market segment will either vanish or will not be done by European manufacturers,” Zipse told FT.

European Union member states in March approved an emissions regulation under which the bloc will end sales of new carbon dioxide-emitting cars and vans in 2035.