BMW invests US$1.7bil to expand EV plant

Major expansion: Zipse announcing the plans to invest US$1.7bil in its US operations, during a news conference at the BMW manufacturing plant in Greer, South Carolina. — Reuters

DETROIT: BMW AG is investing US$1.7bil (RM8bil) in its United States manufacturing hub in South Carolina to produce electric vehicles (EVs)s domestically, part of a global overhaul to prepare for a new generation of EVs.

The German luxury carmaker is spending US$1bil (RM4.7bil) to retool its Spartanburg plant to build at least six new EV models by 2030 and US$700mil (RM3.3bil) to build a battery assembly facility and hire 300 people in nearby Woodruff.