BMW plans to invest $1.7 billion to build at least six EV models in the U.S. by the end of the decade.
The investment announced Wednesday includes $1 billion toward BMW’s factory in Spartanburg, South Carolina and $700 million to fund a new battery cell plant nearby.
The factory, which builds BMW’s portfolio of X utility vehicles as well as lithium-ion battery modules for two plug-in hybrid electric models, will be “a major driver” for BMW’s electrification strategy, Oliver Zipse, BMW Group Chairman of the Board of Management, said in a statement.
A new battery plant operated by Chinese supplier Envision Automotive Energy Supply Corporation will supply the factory with round lithium-ion battery cells developed for the sixth generation of BMW eDrive technology and the automaker’s next-generation EVs. The new battery format will increase energy density by more than 20%, and improve charging speed and boost range by up to 30%, according to BMW.
Like other automakers, BMW is experimenting with alternate battery chemistries and powertrains, teaming up with Toyota to produce hydrogen fuel cell vehicles as soon as 2025.
BMW to invest $1.7B to build EVs in South Carolina by Jaclyn Trop originally published on TechCrunch
