BMW invests $1.7 billion in electric vehicle production in the US
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Today, October 19, the German automaker BMW announced about plans to invest $1.7 billion in the production of electric vehicles in the United States.
“This is the largest targeted investment we have ever made,” said BMW Group CEO Oliver Zipse. $1 billion will be used to refurbish the company’s plant in Spartanburg, South Carolina, and $700 million will be used to build an electric vehicle battery facility in Woodruff, South Carolina.
BMW said it plans to produce at least six all-electric models in the US by 2030.
In September, the company announced plans to build six factories to produce next-generation batteries – with faster charging processes, longer travel distances on a single charge, and more.
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