BMW will invest $1 billion in its sprawling factory near Spartanburg, South Carolina, to start producing electric vehicles and an additional $700 million to build a electric-battery plant nearby
The German automaker’s announcement Wednesday reflects its commitment to transitioning to electric-vehicle production in North America, in line with similarly ambitious plans by other major automakers.
In addition, BMW said it has signed a deal with Envision AESC of Japan to supply battery cells for a new class of at least six electric SUVs that will be built at the plant in Greer by 2030. The company said the new cells will contain a battery chemistry that increases the amount of energy they can store.
“We are anticipating the growing demand for electric vehicles not only in the United States but around the world,” Oliver Zipse, the company chairman, said Wednesday at the Greer plant. Since breaking ground on the plant in 1992, the company has invested $12 billion in South Carolina. It's the German automaker's largest factory, Zipse noted.announcements in North America as automakers try to establish a domestic supply chain for the next generation of vehicle propulsion.
In addition, Honda, Ford, GM, Toyota, Hyundai-Kia, Stellantis and VinFast of Vietnam have announced plans for a total of 11 U.S. battery plants.gives them even more incentive to build batteries in North America
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