Shulou(Shulou.com)11/24 Report--

On the morning of October 20, Beijing time, it was reported that German carmaker BMW said on Wednesday that it would invest 1.7 billion US dollars to produce electric vehicles in the United States. this is the latest news from a large carmaker about increasing the production of electric vehicles in the United States.

BMW says it is making a $1 billion new investment in its Spartanburg plant in South Carolina to prepare for electric car production. It will spend $700 million to build a new high-voltage battery assembly plant near Woodruff, South Carolina, and create at least 300 jobs.

"this is the largest single investment we have made so far," Oliver Zipse, chairman of BMW Group, said in an interview.

South Carolina Governor Henry McMaster (Henry McMaster) said at a ceremony that BMW's capital investment was the largest in the state's history.

AESC, the automotive energy supply company of China Renewable Energy Group Vision, will also build a new battery plant in South Carolina with an annual capacity of 30GWh, which will supply BMW, BMW said.

The luxury carmaker plans to produce at least six all-electric BMWs in the United States by 2030.

BMW said it would not set a date for stopping production of gas-powered cars, raising concerns about new tax breaks for electric cars in the United States, which are designed to require automakers to stop using battery parts and minerals from China.

Mr Chipze said no region could be fully independent, especially in terms of battery raw materials, and the US "should have a realistic regulation".

He warned that the new $7500 electric car tax credit passed in August could prevent several carmakers from enjoying preferential policies. "if you stop the industry, it will be a disaster," he said. "

BMW said its new battery specifications would increase energy density by more than 20 per cent, increase charging speed and increase battery life by 30 per cent.

BMW has previously announced that it will build four more battery plants in Europe and China to meet its demand. Mr Chipze said the location of the planned sixth battery plant would be determined by market demand. These battery plants, also built by BMW partners, will have an annual capacity of 20GWh.

BMW has produced more than 6 million cars at its 30-year-old plant in South Carolina, which employs more than 11000 people and produces 450000 vehicles a year.

South Carolina provided a grant of $65 million to the Sparta plant to help cover the costs associated with the project.

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