BMW will invest $1 billion in its sprawling factory near Spartanburg, South Carolina, to start building electric vehicles and an additional $700 million to build a electric-battery plant nearby.
The German automaker's announcement Wednesday reflects its commitment to transitioning to electric-vehicle production in North America, in line with similarly ambitious plans by other major automakers.
In addition, BMW said it has signed a deal with Envision AESC of Japan to supply battery cells for a new class of at least six electric SUVs that will be built at BMW's plant in Greer by 2030. Cells from the Envision factory will be shipped to the 1-million-square-foot plant in Woodruff, where they will be assembled into battery packs for the electric SUVs built at the larger plant. Assembling cells into packs takes far less labor than manufacturing the cells. BMW declined to say when the first new EV might be produced.
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