German business publication Handelsblatt reported Monday that the company was planning to restructure its board and develop electric versions of its Mini, BMW3 series and X4 SUV models.
The publication said BMW’s board was “expected to approve the new electric models during a two-day meeting at the end of the month.”
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The reported board changes will include the replacement of chief financial officer Friedrich Eichiner by Nicolas Peter, BMW’s current European sales chief.
“This is only speculation and we can’t comment on this,” BMW spokeswoman Paloma Brunckhorst told Fortune Monday morning.
Facing competition from Tesla, BMW’s electric i3 only shipped 25,000 units last year, and the board has reportedly been loath to invest more in electric until sales improve.
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Internal disagreements over the issue were apparently behind BMW’s unusual decision to skip this year’s Paris Motor Show, though Brunckhorst again declined to comment on those reports.