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BMW invests $1.7 billion in the US to produce electric automobiles

The latest statement from a significant automaker regarding plans to increase U.S. EV production was made on Wednesday by BMW AG, which stated that it will invest $1.7 billion to produce electric vehicles in the country.


In order to prepare for EV production, the German company said it would invest $1 billion in its Spartanburg, South Carolina facility. Additionally, it said it would invest $700 million in a new high-voltage battery assembly facility in the nearby town of Woodruff, South Carolina, which would support 300 new jobs.


In an interview with Reuters, Oliver Zipse, chairman of the BMW Group, said, ‘It’s the biggest single investment we’ve done so far.’


The largest investment in state history, according to South Carolina Governor Henry McMaster, was made by BMW.


BMW also announced that South Carolina-based Automotive Energy Serve Corporation, a subsidiary of Chinese renewable energy company Envision, will construct a new battery cell factory with a 30-GWh annual capacity to supply the manufacturer.


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