BMW completes $1.7 billion South Carolina expansion, unveils all-electric X5

BMW on Tuesday announced the completion of its $1.7 billion investment in South Carolina, where the German carmaker will produce fully electric vehicles. The luxury auto brand said it had completed the expansion of a plant in Spartanburg and the construction of another in Woodruff.The company also unveiled its fifth-generation BMW X5, which will be the first fully electric BMW assembled in the United States, starting later this year. At least five more fully electric models are scheduled to be assembled in the U.S. by 2030.CHINA MOVES TO BAN FEATURE COMMONLY SEEN ON TESLA VEHICLES OVER FEAR OF TRAPPED PASSENGERS"When we announced our investment plans for South Carolina in 2022, we made a clear commitment to the future of the BMW Group in the United States," said Milan Nedeljković, member of the board of management of BMW AG. "Today, we are delivering on that commitment. The completion of our investments in Plant Spartanburg and Plant Woodruff demonstrates our confidence in the United States and reinforces South Carolina’s role at the center of BMW Group’s global operations."The main plant in Spartanburg was established more than three decades ago and has assembled 7.3 million BMW vehicles since 1994, the company said. Nearly 3 million BMWs have been exported from the United States, valued at over $113 billion.BMW RECALLS NEARLY 200K VEHICLES DUE TO FIRE RISK, SAYS OWNERS SHOULD PARK OUTSIDEIn 2025, 412,799 BMW X models were assembled at Plant Spartanburg, with roughly half of those exported to nearly 120 countries, BMW said.On June 16, the European Parliament voted to approve cutting duties on many U.S. goods imports. BMW marked Tuesday's milestone with a "Home of X" event in Spartanburg while unveiling the new BMW X5.The X5 will be the first offered with five drivetrain options, the company touted: internal combustion, battery electric, plug-in hybrid electric, diesel, and hydrogen fuel cell.GET FOX BUSINESS ON THE GO BY CLICKING HERE"The new BMW X5 demonstrates our belief that innovation and customer choice go hand in hand," said Sebastian Mackensen, president and CEO of BMW of North America. "Our customers both in the U.S. and around the world will love the new BMW X5 – and our technology-open approach puts them in the driver’s seat to enjoy the performance and premium experience that define BMW, regardless of which drivetrain they choose."The company said its operations in the U.S. support more than 120,000 jobs and contribute more than $43.3 billion annually to the U.S. economy.Weiter zum vollständigen Artikel bei FOX Business Weiter zum vollständigen Artikel bei FOX Business