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

CTOnews.com, November 26 (Xinhua)-- BMW announced yesterday that it would nearly double its investment in Hungary's planned electric car plant and add battery capacity.

BMW announced that the Debrecen plant in Hungary, which began construction six months ago, is now building a high-voltage battery assembly plant for its NEUE KLASSE model. By the end of 2025, the company will create more than 500 additional jobs and invest more than 2 billion euros in the construction and start-up of the entire plant.

CTOnews.com learned that BMW will also add a $500 million battery production line to its planned plant.

Hungarian Foreign Minister P é ter Szijj á rt ó said BMW's factory in Debrecen, which combines environmental protection and competitiveness, is a symbol of the success of Hungary's economic policy over the past 12 years.

According to Reuters, BMW's Hungarian plant initially planned to invest more than $1 billion and will produce 150000 vehicles a year, but with the increase in funding, the plant's capacity will once again be upgraded, but the exact scale is unclear.

"the close relationship between battery assembly and car production is part of our strategy," BMW's senior vice president for battery production said in an interview with Reuters. " It is hoped that this will increase production and reduce production costs. "

BMW says batteries are a decisive factor in the competitiveness of electric vehicles. The NEUE KLASSE will use next-generation batteries with 30 per cent more mileage and 30 per cent faster charging.

BMW said battery makers would use cobalt, lithium and nickel, including a certain percentage of secondary materials, that is, to recycle old materials in battery production to meet their commitment to reduce carbon emissions by 60%.

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