BMW will invest 800 million euros ($866 million) in the central Mexican state of San Luis Potosi. The expansion is set to add around 1,000 new jobs at its operations in the Mexican state. More than half of the funds to be invested in Mexico - 500 million euros - are earmarked for the battery assembly center.
BMW announced Friday that it will spend 800 million euros ($866 million) to construct completely electric “Neue Klasse” cars and high-voltage batteries in the San Luis Potosi state of central Mexico. BMW’s newest effort into electric vehicles (EVs) as it strives to convert more than half of its sales into all-electric cars by 2030, the company claimed, is the expansion, which is expected to add about 1,000 new employment at its operations in the Mexican state.
BMW Will Invest $872 Million In Mexico
500 million euros, or more than half of the funds to be invested in Mexico, are designated for the battery assembly centre on the premises of the automaker’s current plant, according to BMW, where 500 extra workers will be employed. It stated that an additional 500 employment would be created in other regions.
According to factory manager Harald Gottsche, the remaining 300 million euros will be used to adapt and expand the body shop and develop a new assembly line to instal the battery packs.
Beginning in 2024, “We will start building, constructing the extensions and the new battery assembly, and we will start (to scale up) production,” he said. (Reporting from Mexico City by Kylie Madry; additional reporting from San Luis Potosi by Toya Sarno Jordan; editing by Chizu Nomiyama)
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