BMW Group has announced that it will invest $1.7 billion in the United States. The money will go towards building a new battery cell factory and preparing the automaker’s plant in South Carolina to produce electric vehicles.
Some $1 billion will go towards upgrading the Spartanburg plant, where the company plans to produce six electric vehicles by 2030. The remaining $700 million will go towards building the new battery plant in Woodruff, Caroline from the south. The new factory, which Envision AESC will build, will cover 1 million square feet and create 300 new jobs.
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The battery plant will produce the automaker’s new round lithium-ion battery cells. BMW is promising 30% more range with the new batteries while cutting prices by up to 50%, which BMW says is needed to expand the adoption of electric vehicles. The new cell technology is 20% denser and could improve charging times by 30%. Their production will also reduce CO2 emissions by up to 60% through the use of recycled materials and renewable energy sources. The new plant will have an annual capacity of up to 30 gigawatt hours.
BMW’s Spartanburg plant already produces battery modules for the BMW X3 and X4 plug-in hybrids. Last year, BMW built nearly 70,000 electrified models at the site. BMW established the plant 30 years ago and has been producing vehicles there for 28 years. It employs more than 11,000 people and can produce up to 450,000 cars per year. It currently manufactures 11 models, with BMW XM production beginning at the plant later this year.
BMW is just the latest automaker to announce its investment in the United States. Last week, Honda and LE Energy Solution announced that the two would build a 40 GWh battery plant in Ohio, which could cost up to $4.4 billion. In September, Toyota announced a $2.5 billion investment for its battery production plant in the United States.
BMW has already announced the construction of four additional battery cell factories in Europe and China, each with an annual capacity of 20 GWh. As the industry evolves, we expect more automakers to announce investments to bolster electric vehicle production.
BMW Group has announced that it will invest $1.7 billion in the United States. The money will go towards building a new battery cell factory and preparing the automaker’s plant in South Carolina to produce electric vehicles.
Some $1 billion will go towards upgrading the Spartanburg plant, where the company plans to produce six electric vehicles by 2030. The remaining $700 million will go towards building the new battery plant in Woodruff, Caroline from the south. The new factory, which Envision AESC will build, will cover 1 million square feet and create 300 new jobs.
180 Pictures
The battery plant will produce the automaker’s new round lithium-ion battery cells. BMW is promising 30% more range with the new batteries while cutting prices by up to 50%, which BMW says is needed to expand the adoption of electric vehicles. The new cell technology is 20% denser and could improve charging times by 30%. Their production will also reduce CO2 emissions by up to 60% through the use of recycled materials and renewable energy sources. The new plant will have an annual capacity of up to 30 gigawatt hours.
BMW’s Spartanburg plant already produces battery modules for the BMW X3 and X4 plug-in hybrids. Last year, BMW built nearly 70,000 electrified models at the site. BMW established the plant 30 years ago and has been producing vehicles there for 28 years. It employs more than 11,000 people and can produce up to 450,000 cars per year. It currently manufactures 11 models, with BMW XM production beginning at the plant later this year.
BMW is just the latest automaker to announce its investment in the United States. Last week, Honda and LE Energy Solution announced that the two would build a 40 GWh battery plant in Ohio, which could cost up to $4.4 billion. In September, Toyota announced a $2.5 billion investment for its battery production plant in the United States.
BMW has already announced the construction of four additional battery cell factories in Europe and China, each with an annual capacity of 20 GWh. As the industry evolves, we expect more automakers to announce investments to bolster electric vehicle production.