The BMW Group has announced that it will invest €800 million ($858.2 million) into its San Luis Potosí plant in Mexico to prepare it for the production of new EVs based on its forthcoming Neue Klasse platform.
In addition to supporting the production of its new fully-electric models, BMW’s investment will also be used to set up a high-voltage battery assembly line at the plant.
Of the €800 million invested into expanding its Mexico plant, €500 million ($536 million) will be allocated to the construction of the new battery assembly center. The center will span an 85,000 square-meter area and will produce next-generation batteries for new BMW EVs.
The announcement follows the Group’s $1.7 billion investment into its Spartanburg facility, which works similarly to prepare it for the production of new EVs, as well as a $700 million investment into a battery assembly center near Woodruff, SC.
