I saw part of an interview with Andreas Bovensiepen, CEO of Bovensiepen Automobiles in which he basically stated that BMW and Alpina agreed that there was likely not going to be a place for Alpina versions of BMW production cars in an EV world. He also commented that EVs require several competencies that Alpina does not currently have (like software development). The company will remain in operation, with an Alpina Classics division concentrating on supporting their older models and an engineering arm that does chassis and suspension consulting for BMW, Mini, Rolls, etc.
Bovensiepen commented that they did not intend to compete with BMW M cars, claiming Alpinas were more luxurious than sporty. That said, many of their cars had far more torque available at lower rpms that even BMW M cars, enabling a different driving experience (which I have yet to experience).