BMW Announces $1.7 Billion Investment For Batteries In US

BMW, like most traditional automotive brands, has been on this journey towards electrifying its portfolio of cars. It already has several models that are EVs and two days ago Rolls Royce, the luxury car brand that BMW owns, also announced its first EV, the Spectre. Considering all this movement in the electric car space, BMW has now announced a $1.7 billion investment where it will pump in a billion dollars into a manufacturing facility in South Carolina and a further $700 million in the construction of a new battery assembly plant in Woodruff, SC.

“For decades, Plant Spartanburg has been a cornerstone of the global success of the BMW Group. The home of the BMW X models that are so popular all over the world. Going forward, it will also be a major driver for our electrification strategy, and we will produce at least six fully electric BMW X models here by 2030. That means: The ‘Home of the X’ is also becoming the ‘Home of the Battery Electric Vehicle’,” said BMW Chairman of the board of management, Oliver Zipse on Wednesday.

“In addition, we can showcase BMW Group’s ‘local for local’ principle: Our newly developed sixth generation battery cells, which were specifically designed for the next generation electric vehicles, will be sourced here in South Carolina – where X goes electric,” he added.

The announcement happened in the presence of South Carolina governor Henry McMaster and many other delegates from the US government. The main investment has been made in what BMW calls Plant Spartanburg and then there will be another battery assembly facility will be built near it.

“BMW’s sustained and impactful presence in South Carolina demonstrates the power of partnership and shared commitment to our state’s automotive industry success,” said Governor McMaster.

“With today’s announcement of a $1 billion expansion to Plant Spartanburg for manufacturing electric vehicles as well as $700 million for a new plant in Woodruff to assemble battery units, the road to the future is here. And I applaud BMW on helping lead the way,” he added.

Plant Spartanburg was established 30 years ago and has become the global hub for BMW sports activity vehicles. Already BMW over the years has invested $12 billion in the facility. It employs more than 11,000 people and has an annual capacity of 450,000 vehicles which has made BMW the largest exporter from the US by value for the last eight years. The facility makes the X3, X4, X5, X6 and X7 vehicles.

“This is a very important step for Plant Spartanburg as we continue our legacy of producing high-quality vehicles, and build on the success of the last 30 years,” said Robert Engelhorn, President and CEO, BMW Manufacturing Co.

“With this latest investment, we futureproof our operations and prepare the plant for electrification and new technologies, ensuring both the long-term success of our company and our position as an attractive and viable employer in the state of South Carolina,” he added.