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BMW could face 1 bln euro hit from costlier raw materials, says CFO

LONDON, May 7 (Reuters) - Rising raw material prices, in particular rhodium, palladium and steel, could cost German carmaker BMW an additional 1 billion euros ($1.21 billion) in 2021, the company’s chief financial officer said on Friday.

In a conference call, Nicolas Peter said that higher raw material costs will be partly offset by favorable currency exchange rates, so the net impact will be about 500 million euros. ($1 = 0.8273 euros) (Reporting by Nick Carey Editing by David Goodman )

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