BMW CEO touts US manufacturing push with $1.7B South Carolina EV expansion

Key Points:

• BMW has completed a $1.7 billion investment in South Carolina, including a $1 billion upgrade to Plant Spartanburg and a $700 million battery assembly facility in Woodruff, marking a major milestone in its U.S. manufacturing strategy.
• The company unveiled the all-new iX5, the first fully electric BMW X5 to be assembled in the U.S., with production starting at the end of 2024, and plans to build at least five additional electric models in the U.S. by 2030.
• Despite some automakers scaling back EV plans, BMW remains committed to electric vehicles, viewing them as a relevant and lasting drivetrain option, while also exporting from its U.S. plants to global markets.
• Plant Spartanburg, operational for over 30 years, currently assembles multiple BMW models for both domestic and international customers, significantly contributing to local economic growth by attracting suppliers and businesses to the region.
• The U.S. is BMW’s second-largest market by volume, and the company emphasizes assembling cars locally to serve customers directly, maintaining its position as the largest automotive exporter from the U.S. by value for over a decade.