Why hasn't anyone invented a Solenoid driven Intake and Exhaust Valve?

Bmw did it a few years ago and formula 1 engines do not have a camshaft I think the main issue is reliability the technology is there but to get a motor to go 200k miles without a solenoid screwing up is gonna be hard just imagine how many billions of times they would have to work and how fast they would have to open and close at high rpms and any little glitch can be catastropic but since the camshaft and mechanical valves have been prfectly for over 100 yrs that's a big risk to take when such a radical design risk can bankrupt a company I did hear that the new x5 will have have a camshaftless engine but I dunno if its air pressure operated valves or electronic