BMW will spend $1.7 billion to build EVs in the US

It is a huge day for big EV investments within the US. The Biden admin introduced it is awarding $2.8 billion to corporations creating EV battery supplies earlier right this moment, and now BMW says it’s going to be investing one other $1.7 billion in direction of constructing electrical autos in America. $1 billion will go in direction of increasing its Spartanburg, South Carolina manufacturing plant to construct EVs, whereas the remaining $700 million is earmarked to construct a high-voltage battery facility in a close-by city known as Woodruff.

Plant Spartanburg, as the corporate calls the manufacturing facility, is the house of the corporate’s fashionable “X” autos. Now, based on BMW’s US group chairman Oliver Zipse, it should turn out to be the house of BMW’s electrification technique. He introduced the corporate intends to construct no less than six electrical BMW X autos by 2030, which can be when the Biden administration is aiming to make EVs half of latest US automobile gross sales. 

BMW additionally plans to construct sixth-generation battery cells utilizing expertise from Envision AESC, which can construct the aforementioned battery plant. The corporate claims the brand new batteries supply 20 p.c extra power density than its present expertise, in addition to 30 p.c sooner charging and longer vary. Moreover, they’re going to contain round 60 p.c much less CO2 emissions by utilizing secondary minerals and renewable power throughout manufacturing.

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