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BMW Invests $1.7 Billion to Expand South Carolina EV Plant

  • Supplier Envision AESC to build new battery plant in the state
  • BMW revamping global battery supply chain for new EV platform
Bloomberg business news
WATCH: BMW CEO Oliver Zipse discusses the automaker’s $1.7 billion investment in its US manufacturing hub in South Carolina, the impact of rising energy costs on European production. and the ongoing semiconductor shortage.Source: Bloomberg
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BMW AG is investing $1.7 billion in its US manufacturing hub in South Carolina to produce electric vehicles domestically, part of a global overhaul to prepare for a new generation of EVs.

The German luxury carmaker is spending $1 billion to retool its Spartanburg plant to build at least six new EV models by 2030 and $700 million to build a battery assembly facility and hire 300 people in nearby Woodruff. BMW also announced a deal with Chinese-owned Envision AESC to build a new battery cell plant in South Carolina to supply the project.