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BMW Will Build a New Electric S.U.V. in South Carolina
The New York Times • • business
Key Points:
- BMW announced it will start producing electric vehicles (EVs) in the U.S. by the end of the year, with the iX5 midsize electric SUV as the first model from its Spartanburg, South Carolina plant.
- By 2030, BMW aims to manufacture six electric models at the Spartanburg facility, which is one of its largest and most significant plants outside Germany.
- This move contrasts with other automakers like Honda, which have recently scaled back or canceled EV projects in the U.S. due to weak sales and the removal of federal subsidies.
- BMW exports about half of the vehicles made in Spartanburg, leveraging strong European demand for EVs, where they constitute 20% of new car sales compared to about 6% in the U.S.
- The company’s strategy reflects confidence in the EV market despite broader industry challenges and retrenchments in electric vehicle investments.
