- BMW (Bavarian Motor Works ADR)BMWJJ is make a $1.7 billion investment in the United States Operating under its electric mobility plan.
- The investment includes $1 billion to prepare for electric vehicle production at the company’s existing US manufacturing facility at its Spartanburg, South Carolina plant and $700 million to build a new high-voltage battery assembly facility near Woodruff, South Carolina.
- The Spartanburg plant currently represents an investment of nearly $12 billion, employs more than 11,000 people and has an annual capacity of up to 450,000 vehicles.
- also read: BMW Group sales list in Q3; EV sales more than doubled
- “The Spartanburg plant has been a cornerstone of the global success of the BMW Group for decades. The home of the BMW X models that are so popular around the world. It will continue to be a key driver of our electrification strategy in the future.” And by 2030 we will be producing at least six fully electric BMW X models here,” said BMW Group CEO Oliver Zipse.
- The BMW Group strives to buy battery cells for its electric vehicles where production takes place.
- The company has found a partner in Envision AESC, who will build a new battery cell factory in South Carolina to supply the Spartanburg plant.
- Envision will produce newly developed round lithium-ion battery cells specially designed for the sixth generation of BMW eDrive technology.
- The annual capacity of the battery cell factory will be up to 30 GWh.
- The BMW Group has already announced plans to build four more battery cell factories in Europe and China to meet its next-generation battery cell needs.
- Related: BMW uses round battery cells for new electric vehicles – what is the advantage?
- Price promotion: BMWYY shares are trading down 1.48% at $25.31 on the last check Wednesday.
- Photo via company
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